Why Traditional Retail Rankings Miss the Real Leaders of U.S. Sales
A review shows that historic retailer rankings have consistently excluded grocery giants, leading to a distorted view of the true market leaders.
Historical retailer rankings have been skewed because they were built from data sets that excluded grocery operators, the sector that has long dominated U.S. consumer spending. Consequently, lists based on the Fortune 500 and UPI mistakenly elevated manufacturers and department stores while leaving out A&P, which led the market for over three decades. The true succession of top retailers is A&P (through 1963), Sears (1964-1989) and Walmart (1990-present).
Comparing Walmart with Amazon is further complicated by Amazon’s opaque reporting of gross merchandise value, producing GMV estimates that range from $447.9 billion to $630.6 billion for 2025. Depending on the assumed take rate, Walmart may outsell Amazon, fall behind it, or even be eclipsed by Amazon plus Sam’s Club combined. The article also notes that fast-growing platforms such as Temu, SHEIN, TikTok Shop and AliExpress are absent from traditional rankings, underscoring the need for broader metrics when assessing retail competition.
Why it matters
Misleading rankings hide the true dynamics of U.S. retail, affecting investors, policymakers and competitors.
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