Technology
Visualizing the Size of Amazon, the World’s Most Valuable Retailer
Visualizing the Size of the World’s Most Valuable Retailer
As brick-and-mortar chains teeter in the face of the pandemic, Amazon continues to gain ground.
The retail juggernaut is valued at no less than $1.4 trillion—roughly four times what it was in late 2016 when its market cap hovered around $350 billion. Last year, the Jeff Bezos-led company shipped 2 billion packages around the world.
Today’s infographic shows how Amazon’s market cap alone is bigger than the nine biggest U.S. retailers put together, highlighting the palpable presence of the once modest online bookstore.
The New Normal
COVID-19’s sudden shift has rendered many retail outfits obsolete.
Neiman Marcus, JCPenney, and J.Crew have all filed for bankruptcy as consumer spending has migrated online. This, coupled with heavy debt loads across many retail chains, is only compounding the demise of brick-and-mortar. In fact, one estimate projects that at least 25,000 U.S. stores will fold over the next year.
Still, as safety and supply chain challenges mount—with COVID-19 related costs in the billions—Amazon remains at the top. It surpasses its next closest competitor, Walmart, by $1 trillion in market valuation.
How does Amazon compare to the largest retailers in the U.S.?
10 Largest Public US Retailers* | Market Value July 1, 2020 | Market Value July 1, 2010 | Normalized % Change 2010-2020 | Retail Revenue |
---|---|---|---|---|
Walmart | $339B | $179B | 90% | $514B |
Costco | $134B | $24B | 458% | $142B |
Amazon | $1,400B | $50B | 2,830% | $140B |
The Kroger Co. | $26B | $13B | 107% | $118Be |
Walgreens Boots Alliance | $36B | $26B | 38% | $111B |
The Home Depot | $267B | $47B | 466% | $108B |
CVS | $84B | $40B | 112% | $84B |
Target | $60B | $37B | 64% | $74B |
Lowe's | $102B | $29B | 251% | $71B |
Best Buy | $23B | $14B | 59% | $43B |
Combined value of retailers (without Amazon) | $1,071B |
Source: Deloitte, YCharts
*Largest public US retailers based on their retail revenue as of fiscal years ending through June 30, 2019, e=estimated
With nearly a 39% share of U.S. e-commerce retail sales, Amazon’s market cap has grown 2,830% over the last decade. Its business model, which aggressively pursues market dominance instead of focusing on short-term profits, is one factor behinds the rise.
By the same token, one recent estimate by The Economist pegged Amazon’s retail operating margins at -1% last year. Another analyst has suggested that the company purposefully sells retail goods at a loss.
How Amazon makes up for this operating shortfall is through its cash-generating cloud service, Amazon Web Services (AWS), and through a collection of diversified enterprise-focused services. AWS, with estimated operating margins of 26%, brought in $9.2 billion in profits in 2019—more than half of Amazon’s total.
Amazon’s Basket of Eggs
Unlike many of its retail competitors, Amazon has rapidly diversified its acquisitions since it originated in 1994.
Take the $1.2 billion acquisition of Zoox. Amazon plans to operate self-driving taxi fleets, all of which are designed without steering wheels. It is the company’s third largest since the $13.7 billion acquisition of organic grocer Whole Foods, followed by Zappos.
Accounting for the lion’s share of Amazon-owned physical stores, Whole Foods has 508 stores across the U.S., UK, and Canada. While Amazon doesn’t outline revenues across its physical retail segments—which include Amazon Books stores, Amazon Go stores, and others—physical store sales tipped over $17 billion in 2019.
Meanwhile, Amazon also owns gaming streaming platform Twitch, which it acquired for $970 million in 2017. Currently, Twitch makes up 73% of the streaming market and brought in an estimated $300 million in ad revenues in 2019.
Carrying On
Despite the flood of online orders due to quarantines and social distancing requirements, Amazon’s bottom line has suffered. In the second quarter of 2020 alone, it is expected to rack up $4 billion in pandemic-related costs.
Yet, at the same time, its customer-obsessed business model appears to thrive under current market conditions. As of July 1, its stock price has spiked over 51% year-to-date. On an annualized basis, that’s roughly 100% in returns.
As margins get squeezed and expenses grow, is Amazon’s growth sustainable in the long-term? Or, are the company’s strategic acquisitions and revenue streams providing the catalysts (and cash) for only more short-term success?
Technology
Charting Grand Theft Auto: GTA’s Budget and Revenues
Dive into the GTA budget through the years, with GTA VI set to be the most expensive video game of all time.

Charting Grand Theft Auto: GTA’s Budget and Revenues
Over 10 years since the launch of Grand Theft Auto V (GTA V), the second most-sold video game in history, Rockstar Games has announced its sequel GTA VI will be “coming 2025.”
As the anticipation only grows for this next big entry in the franchise, we take a look at the GTA budget through the years. How much have the last two games cost to make, how much have they earned, and how do they compare with the latest entry?
Data for this visualization comes from Statista, TweakTown, and Twitch Metrics.
How Much Has GTA VI Cost to Make?
The GTA franchise has grown enormously in scale from humble beginnings as a top-down, 2D video game in 1997. Fifteen installments later, the upcoming release, GTA VI, is estimated to be the most expensive video game to be made yet.
Here’s a look at how much GTA VI and the last two major releases cost, and how much revenue they’ve earned as of August 2023.
Year | Title | Production Costs ($) | Revenue ($) | Copies Sold |
---|---|---|---|---|
2025 (est.) | GTA VI | $2B (rumored) | N/A | N/A |
2013 | GTA V | $265M | $7.7B | 185M |
2008 | GTA IV | $100M | $2B | 25M |
In 2008, GTA IV cost around $100 million—already a budget that rivalled big Hollywood releases. However with 25 million copies sold, the game earned nearly $2 billion—a five-fold return on its production cost.
Five years later, GTA V (2013) cost more than $200 million to make—twice GTA IV’s budget. A decade after its release, GTA V has generated close to $8 billion, with hundreds of millions in annual revenue from subscriptions and in-game purchases—a model that its successor is sure to follow.
In fact, subscription fees and in-game purchases represented 78% of Take-Two Interactive’s (parent of GTA developer Rockstar Games) revenues in 2023.
Analysts estimate the to-be-released GTA VI’s costs at $2 billion, including marketing and other expenses. A massive open-world (set in the Miami-inspired “Vice City”), cutting edge graphics, and a reportedly brand-new game engine are all reasons for the game’s outsized budget.
For comparison, the current most expensive games to have been made include Red Dead Redemption 2 (also by Rockstar) and Star Citizen, both reportedly with a $500 million budget.
Meanwhile, Take-Two Interactive shares are up more than 50% for the year.
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