Discount Stores Make NRF’s List of Fastest Growing Retail Companies

Every year, the National Retail Federation ranks the retail industry’s fastest growing companies based on year-over-year retail sales. The 2024 list suggests finding ways to save is still a priority for consumers as five of the top 25 companies are discount retailers, including two grocery operations. The growth percentages are for retail sales from 2022 to 2023.

• #5: Aldi, 17.0% growth
• #9, Five Below, 15.7% growth
• #10, Ollie’s Bargain Outlet, 15.1% growth
• #16, Burlington, 11.7% growth
• #19, Grocery Outlet, 10.9% growth

Independent retail was also represented on the list. Superior Grocers made the list at #15 with 11.7% year-over-year growth. The operation is an independent grocery chain with 73 locations in California and Nevada. The company debuted on the list last year at #6 with year-over-year sales up over 30% from 2021 to 2022.

According to NRF, rankings are determined by increases in domestic sales year over year and all retail companies with global sales in excess of $2 billion are eligible.