NEW YORK — Walmart held the highest rung in Kantar’s ranking of retailers for 2023. It was the 27th consecutive year that Walmart was named top retailer in the PoweRanking of retailers and supplier/manufacturers that set the standard for performance, as judged by their trading partners.

Kroger occupies the No. 2 position among retailers this year, pushing Target to No. 3. Costco and Amazon round out the top five.

“It is a distinguished achievement for brands to be included in the top 10,” said Jeffrey Maloy, senior vice president at Kantar. “For retailers, Walmart continues to set the standard of service to their shoppers.”

PepsiCo, Coca-Cola and Proc­ter & Gamble again claimed the top three spots in the ranking of manufacturers/suppliers.

The Kantar PoweRanking rates companies on their ability to grow profitability, exemplify innovative marketing and supply chain management, engage shopper marketing programs and effectively use digital platforms. Retailers and suppliers were also judged on their sustainability initiatives.

”Walmart has a significant head start on other retailers in becoming a true omnichannel retailer, and this puts them in a great position to remain on top for years to come,” according to the report. “Their strong value proposition to shoppers is timeliness, and their supply chain efficiencies will help them remain advantaged versus their competition.”

Rohan Mazumdar, vice president at Kantar, said he expects retailers and manufacturers alike will “refocus on growing units and trips” as inflation eases and top-line growth cools over the next 12 to 18 months. While the precise direction of inflation and consumer spending is unclear, it is evident that U.S. shoppers across socioeconomic groups will continue to be mindful of how they can get the most for their money, he said.

The report notes that value has been a recurring theme throughout PoweRanking discussions. Kantar said the current climate has made value top of mind for shoppers, leading suppliers and retailers to mirror those concerns coming into 2024. This value-centric focus is fueled by macroeconomic realities such as a reduction in government assistance and the resumption of student loan payments, and has cascaded to retail realities such as inflation and “shrinkflation.”