Market Navigator: Inside the $1 Trillion US Value Retail Market

Published – September 2026

Discover how the US mass merchandisers, warehouse clubs and discount stores sector is evolving as value, convenience, private labels, quick commerce and shifting consumer priorities reshape competition.

Read this report to uncover answers to these and other questions:

• What factors are driving growth across mass merchandisers, warehouse clubs and discount stores, and which formats are best positioned to gain share?
• How are e-commerce and quick commerce changing the competitive landscape and strengthening retailers’ convenience propositions?
• How are inflation, SNAP policy changes and changing consumer spending patterns affecting retailers and category demand?
• How are cross-border platforms such as Temu, Shein and Amazon Haul intensifying competition for discount and discretionary spending?
• Which retailers are strengthening their positions through store expansion, traffic growth, private labels, technology and differentiated customer propositions?

Data in this report include: Sector sales and growth trends; sales breakdown by retail format; online sales trends; retailer revenues and operating margins; store counts and store traffic; and consumer data on retailer usage, product categories purchased, shopper sentiment and spending.

Introduction

What We Think

Themes We Are Watching

• Target Moves into Recovery Phase, but Tougher Comparisons Will Test Its Momentum
• Quick Commerce
• Private Label

The US Mass Merchandisers, Warehouse Clubs and Discount Stores Sector

• Sector Scale and Opportunity
• Segment Breakdown
• Online Market
• Market Factors
• Increase in Cross-Border Commerce Competition

The Companies

• Competitive Landscape: Retailers
• Operating Margins
• Store Numbers and Changes
• Total Sales Area
• Sales Per Store and Sales Densities
• Store Traffic

Retail Innovators

The Consumer

• Mass Merchandisers and Warehouse Clubs
• Discount Stores

Appendix: Ranking Retailers by Store Numbers

Notes and Methodology

• Selected Sources and Further Reading

Amazon.com; BJ’s Wholesale Club; Costco Wholesale; Dollar General; Dollar Tree; Five Below; Ollie’s Bargain Outlet; Sam’s Club; Shein; Target; Temu; Walmart.

Target Comparable Sales Growth, By Fiscal Quarters (YoY % Change)

Target’s Total and Comparable Store Visits (YoY % Change)

Rapid Delivery Users: How Their Use of Rapid Grocery Delivery Service Changed Over the Past 12 months (% of Respondents)

Online Grocery Shoppers: Proportion That Had Bought Groceries Online Using Rapid Delivery (Same-Day or Under Two Hours) in the Past 12 Months (% of Respondents)

US CPG Private-Label and Name Brands: Dollar and Unit Sales Value Growth (YoY % Change)

US Mass Merchandisers, Warehouse Clubs and Discount Stores: Sales (Left Axis; USD Bil.) and YoY Change (Right Axis; %)

US Mass Merchandisers, Warehouse Clubs and Discount Stores: Sales Breakdown by Segment (% of Total Sales)

US Mass Merchandisers, Warehouse Clubs and Discount Stores: Global Online Sales (Left Axis; USD Bil.) and YoY Change (Right Axis; %)

US CPI and PPI: YoY % Change

US Consumers Who Have Observed Inflation: How They Have Changed, or Expect To Change, Their Shopping Habits in Grocery as a Result (% of Respondents)

US Respondents Who Have Observed Inflation: How They Have Changed, or Expect To Change, Their Shopping Habits in Nongrocery as a Result (% of Respondents)

Top Five States with the Highest % Decline Between July 2025 and May 2026

Annual SNAP Benefits (USD Bil.)

State-Level Restrictions on SNAP-Eligible Purchases and Implementation Date

US Major Mass Merchandisers, Warehouse Clubs and Discount Stores: Major Retailers’ Revenues (USD Bil.)

US Major Mass Merchandisers, Warehouse Clubs and Discount Stores: Share of Total US Retail Sales (%)

US Major Mass Merchandisers, Warehouse Clubs and Discount Stores: Major Retailers’ Operating Margins (%)

US Major Mass Merchandisers, Warehouse Clubs and Discount Stores: Major Retailers’ Store Numbers

US Major Mass Merchandisers, Warehouse Clubs and Discount Stores: Total Sales Area (Sq. Ft. Mil.)

US Major Mass Merchandisers, Warehouse Clubs and Discount Stores: Sales Per Store (USD Mil.)

US Major Mass Merchandisers, Warehouse Clubs and Discount Stores Retailers’ Estimated Sales per Square Foot (USD)

US Mass Merchandisers, Warehouse Clubs and Discount Stores: Major Retailers’ Store Traffic (YoY % Change)

Retail Innovators Impacting the US Mass Merchandisers, Warehouse Clubs and Discount Store Sector

Mass Merchandisers and Warehouse Clubs That US Consumers Have Purchased from in the Past Three Months

US Mass Merchandisers and Warehouse Clubs: Product Categories Purchased in the Past Three Months

US Mass Merchandisers and Warehouse Clubs: Shoppers Who View Retailers “Very” or “Somewhat” Positively (% of Respondents)

US Mass Merchandisers and Warehouse Clubs Shoppers: Total Spending in the Past Three Months (% of Respondents)

US Dollar Store Shoppers: Dollar Stores From Which They Have Shopped in the Past Three Months (% of Respondents)

US Dollar Store Shoppers: Dollar Stores From Which They Have Shopped in the Past Three Months (% of Respondents)

US Dollar Store Shoppers: Total Spending at Dollar Stores in the Past Three Months (% of Respondents)

US Dollar Stores: Shoppers Who View Retailers “Very” or “Somewhat” Positively (% of Respondents)

US Major Mass Merchandisers, Warehouse Clubs and Discount Store Banners, Ranked by US Store Numbers