Proof of Washington’s Retail Muscle

A prominent business executive new to town once told me he loved shopping at Nordstrom’s. He was sheepish when he discovered that the upscale retailer’s headquarters are based in Seattle.

“I should have known that,” he admitted. 

Seattle is one of the country’s top retail meccas (I would make the case that Minneapolis is No. 1, but that’s another conversation). Remember those congressional hearings a few years back about big tech? One senator asserted that Amazon was based in Silicon Valley. Of course, the same senator also had no idea how Facebook made money, but again, I digress.

The National Retail Federation today released its annual List of Top 100 Retailers for 2024 according to revenue, and two Seattle retail giants are near the top. Amazon ranks No. 2, with almost $360 billion in worldwide sales. Costco Wholesale is No. 5, with $234 billion in sales. Nordstrom is the only other state-based retailer in the top 100, placing No. 34.

Besides those juggernauts, the state is also home to the likes of Starbucks, Alaska Airlines, and Expedia. Eddie Bauer, Filson, and Tommy Bahama all started here, though they’re now owned by out-of-state entities. And, of course, there’s Microsoft, which I’m guessing the NRF doesn’t consider a traditional retailer.

Amazon and Costco are also in the top five on NRF’s Top 50 Global Retailers list of 2024, with the former ranking No. 2 and Costco No. 5. Walmart ranks No. 1 on both lists.

All of this comes just in time for both Amazon’s Prime Days (July 16 and 17) and Nordstrom’s Anniversary Sale, which kicks off July 15 to the general public.

Are you as excited as I am?