Amazon Vs. Walmart: 48% See One Leader In 2025, Others Expect A Tie

Ecommerce giant Amazon.com Inc AMZN recently hit a significant milestone for the retail sector with its quarterly revenue passing Walmart Inc WMT to become the world's largest retailer.

When it comes to the battle of the two retail giants, Benzinga readers have a clear favorite.

What Happened: Amazon posted revenue of $187.79 billion in the fourth quarter, a total that surpassed the $180.55 billion reported by Walmart in the fourth quarter.

This makes Amazon the new global retail leader in revenue, although it is only for one quarter currently. Investors should also note that Amazon's total includes its AWS cloud service, which accounted for a revenue of $28.8 billion in the fourth quarter.

Benzinga recently asked readers about the two retailers.

"Which retail giant do you expect to lead by the end of 2025?" Benzinga asked.

The results were:

• Amazon: 48%
• They'll remain neck-and-neck: 34%
• Walmart: 18%

Amazon was the clear leader in the poll, which suggests investors think the ecommerce giant could have the top stock return in 2025 of the two companies and could also continue to pass Walmart in revenue totals.

Read Also: Walmart Stock Hits New All-Time Highs, Company Goes Shopping For … Malls?

Why It's Important: While Amazon surpassed Walmart in the fourth quarter, Walmart maintained its lead in the 2024 fiscal year totals.

Amazon’s revenue was $638.0 billion in 2024, including $107.6 billion from AWS. Walmart's was $681.0 billion.

There is a chance that Amazon continues to surpass Walmart each quarter, and by the third quarter, it would have four quarters ahead of the retailer in the books and be the retail revenue leader on a trailing twelve-month basis.

While Amazon is viewed as the leader in the poll, the stock has trailed Walmart year-to-date in 2025 and over the last year.

Amazon stock is down 6.95% year-to-date in 2025 and up 15.5% over the last year. Compare that to Walmart stock, which is up 8.4% year-to-date in 2025 and up 64.6% over the last year.

Along with seeing Amazon as the outperformer in 2025, Benzinga readers also previously predicted the S&P 500 would have a strong return for the full year.

“What do you think the return will be in 2025, his [Donald Trump‘s] first year back,” Benzinga asked in January.

The results were:

• 16%+: 26%
• 11% to 15%: 22%
• Will Decline: 22%
• 6% to 10%: 19%
• 0% to 5%: 12%

The poll found the largest percentage believes the S&P 500 Index will post gains of at least 16% in 2025. The 11% to 15% range came in second place at 22%.

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The study was conducted by Benzinga from Feb. 24, 2025 through Feb. 26, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 114 adults.

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