The National Retail Federation’s annual Top Global 50 Retailers list ranks the nation’s top international retailers based on their operations at the start of the previous year. Walmart maintains its position at the top, followed by Amazon, Schwarz Group, Aldi and Costco. This series takes a closer look at select retailers and sectors on the list.
From its origins in North America and Europe, the club format has found success worldwide by catering to small businesses and the growing middle class. For an annual fee, members gain access to unique values and can shop the club for a variety of reasons in a single trip, such as purchasing an affordable luxury item, buying in bulk and enjoying the excitement of a treasure hunt experience.
The global middle class is growing at approximately 100 million people per year, much of it in China, the rest of South Asia and Latin America. The club format targets these key markets with three variations that cater to each geography.
This format evolved from small companies that needed to buy a broad range of goods to support their businesses. In most cases, companies must register as members and pay an annual fee. They must also produce a government license and tax identification so their transactions can be recorded for future tax reporting.
View the complete Top 50 Global Retailers 2025 list.
These typically large retail locations of more than 10,000 square meters are located in industrial parks. In the past decade, these clubs have added ecommerce and delivery.
The German company Metro AG with over 600 locations in 21 countries is the leader in this space. Most other retailers operating under this format are limited to a single country, and many locations are those sold by Metro AG in the last decade.
This format originated in 1976 when Sol Price opened Price Club in California. Starting as a hybrid cash-and-carry and discount format, it quickly evolved into the one we are familiar with today that offers memberships for businesses and household shoppers.
Clubs are stocked with luxury products in the front, large basic items along the perimeter and high-quality perishables in the back. The center store features a rotating selection of unique, unusual and exciting items, many seasonal in nature. Over time, clubs offered discounted gas, which become a major trip driver, and added pharmacies and vision and hearing clinics. Car sales, vacation packages and financial products, all valuable services for middle-class members, rapidly followed.
Costco is the leader in this format with over 800 locations worldwide. Its core markets are the United States and Canada. Its international growth has focused increasingly on Japan, South Korea, China and Taiwan, but it has been surprisingly successful in Iceland, Sweden and New Zealand over the last few years.
In the early 1990s, Price Club merged with Costco but later split off to become a 50-store chain in Central America and the Caribbean under the PriceSmart banner. Its club layout is identical to that of its former partner.
Learn more about the nation’s top 50 international retailers based on their operations at the start of the last year and view previous editions.
Walmart-owned Sam’s Club has more than 600 locations in the U.S., Mexico and China. In Chile, Sam’s Club operates under the Central Mayorista banner. In Brazil, it operates as a Carrefour-owned franchise.
Costco and Sam’s Club operate warehouses with almost identical layouts in 14,000-square-meter buildings.
Other retailers operating under this format include Shinsegae’s E-Mart in South Korea, Soriana’s City Club in Mexico and BJ’s Wholesale Club in the U.S.
This format emerged in Latin America with Brazil’s Atacadão defining and lending its name to it. These companies evolved from hybrid cash-and-carry and large supermarkets to appeal to contractors, street vendors, restaurants, schools and neighborhood buying groups. Over time, they shifted to a highly successful “case or eaches” selling model in which a shopper can break up a case in store and buy individual items, usually at 10% to 15% markup.
Building sizes vary widely, from the 4,000-square-meter Alvi chain in Peru and Chile to locations in Brazil and Argentina that exceed 22,000 square meters. Buildings in Colombia, Uruguay, Argentina, France, Spain and Morocco tend to be closer to 18,000 square meters.
Aside from the Atacadão banner, now owned by Carrefour, the Atacadista banner owned by Assaí also operates in Brazil. However, this unique format has been slow to expand outside of Latin America as companies try to market it to the demands of a more formal member base.
Even though these formats differ, they will continue to grow by drawing members from each country’s middle class. Car, home repair and vacation purchases, along with broader financial services offerings, will be the main drivers of expansion.
These value-added services will complement the treasure hunt experiences for unique items, access to hard-to-find luxury products, and cost savings from bulk purchases that clubs are known for. This combination will be the foundation for increasing membership and achieving high renewal rates.