SurveysJul 30, 2026
Consumer Confidence Slips in JulySurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRF
The retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
Dick’s Sporting Goods, one of the National Retail Federation’s “Hot 25 Retailers” this year, was highlighted for its “high-quality” shopping experience.
Washington, D.C—The National Retail Federation has unveiled its list of this year’s 25 hottest retailers in the United States.
The “Hot 25 Retailers” list, compiled by market research company Kantar, highlights the fastest-growing retail companies in the U.S., ranking them by increases in domestic sales between 2024 and 2025.
Chinese retailer Miniso, a newcomer to the top 25 list, claimed the No.1 spot.
Miniso stocks everything from popular blind box toys and plushies to skincare and stationery, collaborating with brands like Harry Potter, the Powerpuff Girls, The Peanuts, and Hello Kitty and Friends.
The retailer has been expanding in the U.S., with 53 percent sales growth in the U.S. in 2025.
Dick’s Sporting Goods, also new to the list this year, landed at No. 2 with 49 percent sales growth since acquiring Foot Locker, followed by Japanese retail chain Daiso Sangyo (26 percent), Primark (24 percent), and Five Below (23 percent).
Notably, many of the retailers in the top five offer budget-friendly products, which are increasingly appealing in a K-shaped economy.
“Value is a huge story in this year’s list,” said Rachel Dalton, head of retail insights, Americas, Kantar, in an NRF blog post.
“Many shoppers, including higher-income shoppers, are looking for the best value for them. There’s a lot of looking for deals, looking for the best prices, trading down, and buying private labels.”
The top retailers also encourage fun, discovery-driven shopping experiences.
These stores are also ideal stops for shoppers looking to indulge in “little treat culture,” the trend of getting yourself a little something nice, particularly in response to a bad day or as a pick-me-up.
“The main takeaway for me is that you can do well, irrespective of this economic environment, if you have a product and approach that appeals to the consumer,” said NRF Chief Economist and Executive Director of Research Mark Mathews in another NRF blog post about the list.
In 2025, the top five were JD Sports, Primark, Fast Retailing, Shell, and Abercrombie & Fitch.
Compared to last year’s list, both Daiso Sangyo and Five Below made strong gains this year, jumping from the top 15 last year into the top five, while Primark slipped two spots.
Some of the biggest movers on this year’s list were Ollie’s Bargain Outlet, which jumped to No.7 from No. 21 last year; CVS was at No. 9, from No. 25.; and Japanese retailer Muji took the No. 10 spot, from No. 14 last year.
Mathews described this year’s list as “eclectic,” noting it reflects the changing interests of today’s consumers and the diversity of the U.S. population with several Asian retailers making their mark.
The “Hot 25 Retailers” list, compiled by market research company Kantar, highlights the fastest-growing retail companies in the U.S., ranking them by increases in domestic sales between 2024 and 2025.
Chinese retailer Miniso, a newcomer to the top 25 list, claimed the No.1 spot.
Miniso stocks everything from popular blind box toys and plushies to skincare and stationery, collaborating with brands like Harry Potter, the Powerpuff Girls, The Peanuts, and Hello Kitty and Friends.
The retailer has been expanding in the U.S., with 53 percent sales growth in the U.S. in 2025.
Dick’s Sporting Goods, also new to the list this year, landed at No. 2 with 49 percent sales growth since acquiring Foot Locker, followed by Japanese retail chain Daiso Sangyo (26 percent), Primark (24 percent), and Five Below (23 percent).
Notably, many of the retailers in the top five offer budget-friendly products, which are increasingly appealing in a K-shaped economy.
“Value is a huge story in this year’s list,” said Rachel Dalton, head of retail insights, Americas, Kantar, in an NRF blog post.
“Many shoppers, including higher-income shoppers, are looking for the best value for them. There’s a lot of looking for deals, looking for the best prices, trading down, and buying private labels.”
The top retailers also encourage fun, discovery-driven shopping experiences.
These stores are also ideal stops for shoppers looking to indulge in “little treat culture,” the trend of getting yourself a little something nice, particularly in response to a bad day or as a pick-me-up.
“The main takeaway for me is that you can do well, irrespective of this economic environment, if you have a product and approach that appeals to the consumer,” said NRF Chief Economist and Executive Director of Research Mark Mathews in another NRF blog post about the list.
In 2025, the top five were JD Sports, Primark, Fast Retailing, Shell, and Abercrombie & Fitch.
Compared to last year’s list, both Daiso Sangyo and Five Below made strong gains this year, jumping from the top 15 last year into the top five, while Primark slipped two spots.
Some of the biggest movers on this year’s list were Ollie’s Bargain Outlet, which jumped to No.7 from No. 21 last year; CVS was at No. 9, from No. 25.; and Japanese retailer Muji took the No. 10 spot, from No. 14 last year.
Mathews described this year’s list as “eclectic,” noting it reflects the changing interests of today’s consumers and the diversity of the U.S. population with several Asian retailers making their mark.
The opportunity for exploration and discovery was key to making the top 25 list.
“There’s just that fun experience, where consumers love to discover new things and enjoy shopping,” said Dalton. “You see that theme across the board.”
Limited-time offers, rotating assortments, and creative experiences lead to excitement and return visits, she said.
The discovery experience is driving growth, she said, particularly with retailers that are innovative and quick to jump on social trends.
Dick’s Sporting Goods’ investment in its Dick’s House of Sport concept stores, which can feature batting cages and rock-climbing walls, has been a success, said Dalton.
“There are a lot of opportunities in how they organize their stores, make it easy, and connect to athletes. It’s [a] high-quality experience when shopping,” she said.
While affordable retailers dominate the list, there is a lone luxury brand, RH, at No. 19.
“You have high-income consumers who are looking for luxury,” said Dalton. “Restoration Hardware has done some really interesting things, and it all goes back to that unique experience.”
The home furnishings company doubles as an entertainment space, with rooftop restaurants and wine bars.
Retailers are getting good at experimental retail, said Mathews, and people still value shopping.
The line between in-store and online shopping is increasingly blurred, he noted, and the option customers pick has more to do with convenience than anything else.
Interestingly, how retailers distinguish between online and in-store sales is becoming “increasingly flawed,” he said. While one retailer may categorize a BOPIS (buy online, pick up in store) transaction as in-store, another will call it an online sale.
“The numbers don’t even make any sense anymore,” said Mathews.
“We’ve actually stopped referring to e-commerce in any of our projections or any of our data. It’s really just about the experience.”
Whether online or in-store, the love for shopping is there, but concerns about affordability linger.
Inflation is impacting their psyche and how consumers choose to spend their money, Mathews said.
“And yet, the data shows that despite their unease, the consumer is spending. The dichotomy that we’ve seen over the last several years is that the consumer doesn’t feel great about the economy or inflation, but retail spending has remained robust,” he said.
Consumers are choosing to spend on things that matter to them, with spending on family and loved ones hitting near-record rates, said NRF.
They are easing their spending on dining, travel, and streaming services, but not their retail spending, said Mathews.
The diversity of the U.S. population is also reflected in the line-up.
Dave Marcotte, Kantar senior vice president, noted the Asian influence on the list, with Chinese Miniso and Japanese Daiso Sangyo in the top five.
“[Daiso Sangyo] is a real, bona fide value discount store,” said Marcotte. “But part of what makes it so interesting is its authenticity. I think anyone would walk into a Daiso store in the U.S. and think that a Daiso in Japan would be just like it.”
Japanese culture has had a longstanding influence on young consumers in the U.S., through music, art, and drama, said the NRF.
That wave of cultural appreciation lifted Fast Retailing (No. 6), Muji (No. 10), and U.S.-based Asian supermarket chain 99 Ranch Market (No. 15) onto the list.
Many of these stores are “masters at merchandising,” said Marcotte, and play into the discovery aspect, like with blind boxes.
Marcotte and Dalton both noted the running theme of private label brands throughout the list, which can help build customer loyalty while offering value.
Costco’s (No. 18) Kirkland Signature brand may be one of the most well known.
“Private label is growing. It’s a huge area of focus for many of our clients, as well. Many of them are launching private label as if they are national brands, and they’re doing a lot of the same things in terms of brand building,” said Dalton.
Overall, the list gives retailers the opportunity to see where they stand, said Dalton, and to note the themes and trends.
Retailers’ ability to appeal to consumers with “the right product, the right emotion, the right identity, and the right experience” can overcome any economic environment, said the NRF.
If that’s the focus, retailers will find success, said Mathews.
“Because even if people are feeling tight, they’re willing to trade away other things if they desire what you’re selling,” he said.
See the full list here.
Editors' Picks
Sponsored by
More on Surveys
The Latest
Policies & IssuesOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 06, 2026
Frederick Goldman Names COO, CMOFGI President John Orrico is also leaving the company after more than 13 years.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
IndependentsSep 29, 2026
Christy Bromberg, Longtime Gift Buyer for Underwood Jewelers, Dies at 68She is remembered for her joie de vivre, upbeat personality, genuine interest in other people, and love of the Alabama Crimson Tide.
AuctionsSep 29, 2026
Dionne Warwick’s Jewelry Goes Up for AuctionOnline bidding is open now for Julien’s sale of items owned by the “Walk On By” singer, whose final album comes out this fall.
Events & AwardsSep 29, 2026
Matt Stuller to Receive 2027 Gem Award for Lifetime AchievementThe founder and executive chairman of Stuller Inc. is being honored for his impact on the jewelry industry at the 25th annual Gem Awards.
ColumnistsSep 29, 2026
Your Holiday Marketing Has a Bridal Blind SpotDecember is the most popular month to propose, and jewelers need to keep that in mind when planning their holiday marketing.
AuctionsSep 29, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s collection of cat jewelry and other objects is going up for auction Wednesday.
