The world’s largest retailer by revenue as of 2024 was Walmart.
Walmart’s scale grew from Sam Walton’s focus on low prices, efficient distribution, and high sales volume. Walton opened the first Walmart store in Rogers, Arkansas, in 1962. The company expanded rapidly through large discount stores, warehouse-style logistics, and eventually supercenters combining groceries with general merchandise.
“Largest by revenue” is not the same as most profitable, most valuable, or largest by market capitalization. Fortune’s 2024 Global 500 ranked Walmart first worldwide by revenue, with Amazon second. Retailers can generate enormous revenue while earning relatively modest margins because they sell huge quantities at comparatively low prices.
Walmart is also frequently confused with the Fortune 500, which ranks U.S. companies, and the Fortune Global 500, which ranks companies worldwide. The 2024 global ranking used companies’ reported fiscal-year revenue, primarily reflecting 2023 results.