Many retailers are struggling and quite a few are even closing up shop — but that is not because Americans don’t like to shop. In fact, overall consumer spending is up. Americans just like to shop in a comfortable format, any time of day.
And some retailers seem to have discovered the key to attracting their customers. These brick-and-mortar retailers and online ecommerce platforms have been consistently reporting growing sales.
Some have found success because they understand current consumer preferences and lifestyle trends. Natural Grocers by Vitamin Cottage and Sprouts Farmer Market stock their shelves with natural, organic groceries appealing to the current health of organic and food with less additives.
Others, like Lululemon Athletica, did not so much hop onto a growing trend but rather created an entirely new one. Before Lululemon, workout wear was boring; now exercise enthusiasts can wear fashionable “ath-leisure” outfits while they tone their bodies.
Among the names on this list are some stalwarts everyone will recognize. Apple and Costco are now mainstays in the retail field. Even though the company has no stores, Coty cosmetics can be found at any retail establishment.
For now, these retailers appear to have beaten the retail headwinds as they continue to capture the imagination (and dollars) of consumers. Let us see if they can continue to succeed.
To determine the fastest growing retailers, 24/7 Wall St. identified the publicly-traded companies with the highest annual sales growth as of the 2018 fiscal year. We only considered those companies with at least 5% sales growth in the 2017 fiscal year.