The NRF’s research was powered by Kantar’s Retail IQ methodology. Credit: QualityHD via Shutterstock.

Walmart leads the pack with a staggering $600.94bn in worldwide retail sales for 2022, according to the National Retail Federation’s (NRF) Top 100 Retailers list.

The rankings, based on the past 52/53-week annual retail sales figures, showcase the industry’s giants. It’s important to note that these figures, just released by the NRF, may not always align with official public filings due to estimation techniques.

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The NRF is the world’s largest retail trade association.

Estimation techniques and exclusions

To accurately present US retail sales figures, estimation techniques are crucial. Kantar, the brains behind the rankings, employs various methods based on publicly disclosed information.

Revenues from non-retailing segments are excluded unless specified. System-wide sales are highlighted for franchises. Notably, fuel sales at locations primarily designated as gasoline/fuelling stations are excluded.

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Segment power players and selection criteria

What earns a retailer the title of Segment Power Player? Simple – any Top 100 retailer with 2022 US sales equal to or exceeding 10% of the category leader’s sales.

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The US Top 100 list selection, guided by Kantar’s Retail IQ integrated research methodology, involves comprehensive retail coverage across the globe, in-depth analysis of major retail accounts, and inclusion of all retailers with $2bn or more in annual retail sales volume.

Noteworthy departures and inclusions

While Kantar follows a meticulous methodology, the NRF’s Top 100 introduces some departures. It includes key telecom players such as AT&T and Verizon and considers vertically integrated brand speciality retail sales.

A vertically integrated brand can either be a manufacturer with stores selling branded products or a retailer with extensive manufacturer holdings. The 2023 US Top 100 list, however, excludes restaurant chains.

Dive into the details of the NRF’s 2023 rundown here.