US: Walmart Retains Top Ranking On Annual STORES List
Walmart has retained its top ranking on an annual list of the Top 100 retailers in the US, ahead of Kroger, who also retained its position. The STORES 2013 Top Retailers List, compiled by Kantar Retail, saw nine of the Top 10 chains maintaining their status from last year.
STORES noted: “The evolution of consumer expectations, the emergence of new business models and the proliferation of new technology have set retailers on a course of reinvention. Success is contingent on innovation, relevancy and personalisation, and many of the companies on the Top 100 list have embraced those imperatives.”
The report noted the growth of home goods retailers, with three such firms entering the Top 100 this year, which STORES attributed to an improving housing market. The report also highlighted the annual growth rates of some of Walmart’s closest rivals – while the retail giant grew sales by 4%, Target registered a 5.1% rise, Kroger reported 6.6% growth, and Costco was boosted by a 10.6% jump.
The report added that by 2020, the retail landscape is expected to transform itself as more online sales become the standard. Walmart is expected to maintain the top rank, with estimated sales of $444bn, but Amazon is set to jump to second spot, with sales of $215bn. The online giant moved up four spots to No.11 this year, and the report noted: “In many ways 2013's list will be remembered as the last one without Amazon in the Top 10”.