The National Retail Federation has released its annual Top 100 ranking of retailers, and this year has been tough for many of the retailers. According to an article in the trade magazine published by the National Retail Federation “NRF STORES.”
“It (2009)was very challenging,” says Mary Brett Whitfield, senior vice president of Kantar Retail, the research firm that provided the figures found in the Top 100 and Power Players charts. “The consumer was very anxious, cautious in her approach” and tended to shop on a “need-to-buy rather than a want-to-buy basis.” Kantar’s economists believe we are “clearly very early” in what they predict will be “a slow recovery,” Whitfield says.
The two-year-plus recession was the most severe economic crisis that most “core retail shoppers have gone through in their lifetimes,” Whitfield says. The result is that the recession has “created value consumers” whose frugal habits are likely to last for some time, much the way the Great Depression affected an entire generation of shoppers.
The Top 10 is remarkably similar to the 2009 list. Walmart is remains #1 and is followed by Kroger, Target, Walgreen, The Home Depot, Costco, CVS, Lowe’s, Sears Holdings and Best Buy. All of which are notable to this writer because they have grown significant powerful Private Brand portfolios which have certainly impacted their rank on the list.