Table of Contents
WASHINGTON – The National Retail Federation has announced the 2024 Hot 25 Retailers List. Produced by Kantar, the list highlights the fastest-growing retailers in the U.S., with rankings determined by each company’s year-over-year increase in domestic sales from 2022 to 2023.
Overstock.com ranked as the fastest-growing retailer in the nation, with domestic sales growth of 135.1% and an increase in sales of $2.6 billion. After acquiring the rights to the online operations of Bed Bath & Beyond, Overstock.com was able to drastically increase sales.
“This year’s Hot 25 List is brimming with a wide array of retailers that has seen significant growth,” says David Marcotte, senior vice president at Kantar. “We’re seeing many newcomers to the list, alongside returning retailers that have successfully tapped into consumer needs and desires.”
Moving up two spots from No. 4 last year, Schwarz Group ranked second with a sales increase of 32.8%. Rounding out the top five spots are Fast Retailing (32.6% sales increase), Irish multinational fast fashion retailer Primark Stores (23.9%) and Aldi (17%).
Other notable moves include Lululemon, which jumped from No. 24 last year to No. 6. The Canadian retailer saw U.S. sales grow 16.7%, or $902 million. H.E. Butt Grocery jumped from No. 25 to No. 13 with 12.7% sales growth last year.
“This year, we observe a resurgence of retailers that had subtly declined in previous years but have gained steady traction with new customer bases,” says Mark Mathews, executive director of research at NRF. “The sales numbers indicate a steady increase for these top 25 retailers, driven in part by their successful adaptation to customer needs, resulting in positive growth.”
Newcomers to the list this year include: Abercrombie & Fitch (No. 7), Five Below (No. 8), Ollie’s Bargain Outlet (No. 10), Chevron Texaco (No. 11), Daiso Sangyo (No. 14), Burlington (No. 16), Cencosud (No. 18), Inditex (No. 21) and Defense Commissary Agency (No. 25).
To learn more about the Hot 25 Retailers and see the methodology, read this blog post.
For additional insights, see NRF’s 2024 Top 100 Retailers and 2024 Top 50 Global Retailers lists.
