The National Retail Federation’s annual Top 100 Retailers list ranks retailers based on U.S. sales. Walmart remains in the leading spot, followed by Amazon, Costco, Kroger and The Home Depot. This series takes a look at power players in select retail categories.
As a category, the 2023 electronics and telecom Power Players have had a variety of experiences. At the top of the list, Apple Stores/iTunes had $70.64 billion in 2022 U.S. retail sales. That marked growth of 9%, maintaining its No. 11 spot on the Top 100 Retailers list overall.
NRF's Top 100 Retailers ranks the industry’s largest companies according to sales.
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Best Buy, second on the category’s Power Players list and No. 14 on the Top 100 Retailers, dropped 10.6% in U.S. sales. David Marcotte, senior vice president for Kantar believes it’s a normal cycle. Because of product mix with diverse enough cycles, he says, slower years are relatively “baked in.”
Besides, virtually everyone frontloaded electronics in 2020 and 2021. Verizon Wireless (No. 23) saw U.S. sales growth of 17.7%; AT&T Wireless (No. 24) saw 3% growth. These companies know their businesses and rely on steady revenue from contracts, he says, so there’s nothing dynamic there.
While Dell Technologies fell 20.3% in U.S. sales, landing at $12.02 billion and dropping from No. 31 to No. 39 among the Top 100, the company was coming off a banner year. In fiscal year 2022 the company reported a record-breaking year, which ended Jan. 28, 2022, with revenue surpassing $100 billion for the first time in the company’s history. The company trajectory this year has been linked to lower demand for personal PCs.
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