2022 Rankings: Walmart is Still World's Largest Retailer

• Global retail emerged with far more revenue and profit as it managed changes in shopper needs and routines.
• China successfully pursued a zero-COVID-19 policy that called for a rapid response to outbreaks and regional lockdowns. This had less impact on retail than expected but was a major factor in the inventory shortages that emerged later in the year.
• To minimise impacts of currency exchange fluctuations, Kantar’s retailer database is maintained in a retailer’s reported local currency, which is converted to US dollars using the International Monetary Fund rates database for the assignment of rank points.
• As a word of caution: "The sales and ranks represented in this publication are an accurate reflection of retailer performance through 2021, but the future remains uncertain."
• Several retailers that fell slightly short of the Top 10 will likely challenge for a spot next year, but some were also affected by new regulatory uncertainties in the fast-growing China market.
• Small pantry grocery formats also did well in multiple markets for Tesco, Auchan, Casino and Spar International, all of which continued to open stores in existing markets.
• Retailers that did not shift position, including Walgreens Boots Alliance, Germany’s Rewe and Japan’s Aeon mix of formats, and apparel retailer Fast Retailing (parent company of Uniqlo), all held their own in the markets where they compete.
• Tencent owns no retail units of its own but enables other industries, including retail partners JD.com and Walmart along with thousands of small startups on social media within the Chinese market.

NRF's Prediction for the Year Ahead:

Looking ahead to 2022 and beyond, investment in store networks will clearly return with a large number of remodels and a limited number of new store openings. In-store digital technology like smart shelving and frictionless purchases are expected to be a major competitive differentiator. Omnichannel access is expanding to lower-income groups, which can be a major game changer in Latin America and Africa. Greater use of small autonomous vehicles for fulfillment at a time of limited staffing is already evident in cities and on campuses. Next year’s evaluations will be based more on how well new formats address changed shopper needs and the success of global procurement strategies.