Ollie’s Bargain Outlet Tops Yelp’s Fastest-Growing Brands List

For the second year in a row, Yelp has compiled a list of fast-growing brands. In its report, Yelp ranked businesses based on climbing consumer awareness as well as brand expansion. This year, Ollie’s Bargain Outlet took the No. 1 spot.

According to Yelp’s “Fastest Growing Brands” analysis, consumer interest in Ollie’s grew 212% in 2024.  As far as expansion, the retailer added 25 locations last year and is opening even more stores in 2025.

Since its founding more than 40 years ago, Ollie’s has expanded to over 30 states by simply buying surplus inventory from popular name brands and selling items at reduced prices. Its “treasure hunt” shopping experience, strong rewards program, and outstanding customer service have built an army of loyal customers.

Yelp’s data — which saw Dollar Tree and HomeGoods taking the No. 2 and 3 spots behind Ollie’s — suggests a growing interest in brands that promote affordability and accessibility. For the past several years, consumers have been hit with rising prices for groceries and other essentials, so it makes sense that budget retailers are rising in popularity.

“Value brands finding success in today’s market is a testament to shifting consumer needs to reduce spending on everyday goods,” said Kadecia Ber, Yelp’s advertising trends expert. 

According to Yelp’s report, searches for “discount stores” increased by 46% since 2024. Consumers looking up “dollar stores” rose 82%. Searches for “outlets” went up 18%.

In another sign that shoppers are growing more desperate for a deal, discount retailers Ollie’s Bargain Outlet, Dollar Tree, and HomeGoods topped Yelp’s annual ranking of America’s fastest growing brands. https://t.co/l7oeXLy2vx

— ADWEEK (@Adweek) March 20, 2025

Ollie’s Bargain Outlet Remains on Track for Growth

As many retailers struggle financially, Ollie’s has been able to grow. The company recently bought out 40 leases once belonging to now-defunct discounter Big Lots. With that, Ollie’s intends to open at least 75 more stores this year.

“With so many retailers closing stores or going bankrupt in the past year, there are a considerable number of abandoned customers, merchandise, real estate, and talent in the marketplace,” said CEO Eric van der Valk, per the most recent earnings statement. 

In its last quarter of 2024, Ollie’s brought in revenue of $667.1 million. Comparable sales for stores open over one year climbed nearly 3%. While falling 10.4% compared to Q4 2023, the retailer’s net income reached nearly $69 million.

In fiscal year 2024, revenue for Ollie’s grew 8%, hitting $2.27 billion. Company leadership anticipates net sales between $2.56 billion and $2.59 billion in fiscal year 2025. A 1% to 2% uptick in comparable sales is also expected by year-end.