Aldi Among NRF's Hottest Retailers
Discount grocer Aldi is among the “hot retailers” in the U.S. according to the National Retail Federation, which recently released its 2024 Hot 25 Retailers List.
Continued store growth coupled with more consumers purchasing private label products were key factors in Aldi’s sales growth, which according to the NRF was up 17% year-over-year from 2022 to 2023.
In March, Aldi announced it would open 800 stores in the U.S. over the next five years. These robust growth plans include the successful completion of Aldi’s acquisition of Southeastern Grocers and its Winn-Dixie and Harveys Supermarket banner, which will drive significant growth in the Southeast over the next few years.
“Our growth is fueled by our customers, and they are asking for more Aldi stores in their neighborhoods nationwide," said Jason Hart, CEO, Aldi. "With up to 40% savings on groceries, new customers are inspired to try us out, and existing customers keep coming back. While price is important, we earn their loyalty by stocking our shelves with only the best products and offering a quicker, easier, and more enjoyable shopping experience."
On the NRF Top-25, 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.
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.
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).
“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.”
