Retail Giants Revealed: Alibaba Maintains Top 20 Spot in Global Rankings
The American Retail Federation released its highly anticipated 2024 Global Retail 50 list, offering a fresh look at the world’s most influential international retailers. This year’s ranking considers domestic and international operations from the beginning of 2023, highlighting the retail landscape’s evolving dynamics.
Promotions and sales on AliExpress in 2024
Retail Titans Top the Charts
Unsurprisingly, retail powerhouses Walmart and Amazon dominate the top two positions. Walmart remains the undisputed champion, with projected operating income of $648.125 billion and net income of $16.270 billion in 2023. Amazon secures a strong second place, boasting an estimated revenue of $574.785 billion and a net profit of $30.4 billion.
Alibaba International Revenues (billions) $2.58
Home country: China
Business Foundations: Ecommerce
Ranking Points: 50.9
Total Company Revenues (billions) : $94.10
International (# stores) : –
Total Worldwide incl. Domestic (# stores) : 971
Countries of first-party operation: 7
Alibaba Holds Steady Despite Slight Drop
The good news for China’s retail sector is the continued presence of two major players: Alibaba and Watsons. Alibaba maintains a respectable position at number 16, experiencing a slight two-position dip compared to 2023. This reflects continued domestic leadership and impressive international growth, with Alibaba’s international e-commerce revenue exceeding market expectations for six consecutive quarters with a remarkable 44% increase.
Europe Takes the Lead in Brand Representation
While China secures two entries on the list, Europe emerges as the dominant force in terms of brand representation. A total of 29 European corporate brands contribute to the top 50 by total revenue, surpassing the number of American brands.
A Look Ahead: Evolving Retail Landscape
The 2024 Global Retail 50 list offers valuable insights into the ever-changing retail landscape. The continued dominance of established giants alongside the impressive performance of Alibaba highlight the importance of both domestic and international growth strategies. With Alibaba’s consistent international expansion, it will be interesting to see how the rankings evolve in the coming years.
AliExpress grew by 60%, becoming the biggest highlight of Alibaba’s financial report
