Five Brands to Watch in 2023

Curious about which brands will come out on top this year? So is foot traffic analytics firm Placer.ai, which has identified 10 fast-growing brands to keep an eye on in 2023.

At first glance, the brands have little, if anything, in common. But as Placer. ai noted, the companies all have one thing in common: a winning strategy for 2023.

Here’s a brief look at five of the brands.

•Whataburger: The quick-serve restaurant chain, which enjoys a cult following, grew its footprint by more than 100 locations between 2019 and 2022 to 923 units, and visits have increased accordingly. From January to November 2022, Whataburger significantly outperformed 2019, and also dramatically outperformed nationwide quick-serve traffic.

Whataburger is known for staying open 24 hours a day, a significant draw at a time when more and more restaurants are closing earlier.

“The combination of Whataburger’s cult status, its new focus on expansion, and its late-night hours in the context of a shifting dining landscape all bode well for the chain heading into 2023,” Placer. ai said.

•Wawa: Overall foot traffic at one of the Northeast’s most popular convenience store chains has increased steadily in recent years — and so have its menu offerings. Elevated food offerings and an extremely loyal customer base have helped fuel its growth.

With nearly 1,000 locations, Wawa has unveiled plans to expand to several new states, including Ohio, Indiana, Kentucky and Tennessee. It’s looking to nearly double its footprint during the next 10 years.

•Grocery Outlet: The extremevalue grocer gets most of its products via opportunistic buying, explained Placer.ai, and works with brands with excess inventories or whose packaging changes force them to offload items at bargain-basement prices.

Amid today’s elevated food prices, Grocery Outlet has emerged as a key destination for bargain-seeking shoppers.

Based in Emeryville, Calif., Grocery Outlet has ramped up its cross-country expansion in recent years, growing from 316 stores in 2019 to more than 400 locations in 2022. It continues to expand, and recently opened its third location in New Jersey.

•Five Below: A signature $5 price threshold, on-trend products and a colorful environment have made Five Below a go-to destination for tweens and teens.

With more than 1,300 stores, the discounter has one of the most aggressive expansion programs in specialty retail, with plans to triple its footprint by 2030. The company is looking to open another 1,000 stores by 2025.

Five Below has also initiated an ambitious remodel program as its customers have proved willing to trade up. The retailer is converting 400-plus stores this year to its new “Five Beyond” format, which houses a dedicated in-store shop featuring higher-priced items.

•Boot Barn: The California-based, Western-focused shoe and apparel retailer found success by expanding into underserved markets — with a focus on areas considered “flyover states” by some retail execs.

Boot Barn’s recent growth came as the chain has deftly widened its appeal to a larger and more diverse group of customers, including fashion-forward shoppers.

As it focuses on expanding in the Northeast, Boot Barn, which has 336 stores, has upped its long-term store count to 900 locations.

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