PHOENIX — Revenue at Phoenix-area grocery stores increased across the board in 2022, with Walmart (NYSE: WMT), Costco (Nasdaq: COST) and Target (NYSE: TGT) seeing the most growth and bumping up their market share, according to the most recent study from sales tracking firm Chain Store Guide.
Chain Store Guide determines market share by looking at each company's presence in the market and annual sales.
While those three large national chains grew their market share in 2022, each only grew a few points of a percent. Overall, the Valley’s grocery store market share rankings stayed the same compared to a year earlier with Fry’s Food Stores at the top.
Walmart and Costco were the next two chains on the list. Those stores respectively saw sales increase 12% and 11.6% from the year prior, with Target, No. 6 in the rankings, seeing increased sales of 11.5%.
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