Why Cava, Popeye’s, and Insomnia Cookies are among the fastest-growing brands of 2024
Why Cava, Popeye’s, and Insomnia Cookies are among the fastest-growing brands of 2024
Yelp’s list of 50 included companies with Insta-worthy dishes and those that encourage ‘treating yourself.’
BY Sarah Bregel
Review site Yelp has released its first-ever list of the 50 fastest-growing brands of the year, and 2024 has some fierce competitors.
While the list was mostly made up of well-known fast-casual eateries, with five out of the top 10 being restaurant chains, there were still a few surprises.
“From newly public companies to those scaling regionally to industry mainstays broadening their footprint, the brands featured on the list are expanding at a fast rate nationally, by state, and geographical region,” Yelp said in the report.
According to the site, it “ranked businesses based on Yelp data, including net-new location openings, consumer interest, and searches, which together highlight how quickly businesses are opening new locations and growing existing ones.” (“Net new,” by the way, means, “the number of new locations opened minus the number of locations that closed.”)
The number-one fastest-growing company on the list was Cava, the Mediterranean fast-casual chain that went public through an IPO last year, raising nearly $318 million. It opened 30 net-new locations in the second half of 2023 alone, and 48 more are planned for 2024.
According to Yelp, the brand’s “healthier dining option” is the reason for its success. “While it’s known for its Mediterranean-inspired bowls, even Cava’s drinks have caught the attention of Yelp users,” the report said. “Yelp’s review insights revealed that Cava’s beverages, including pineapple apple mint and blueberry lavender, are what keep customers coming back.”
The report also revealed that so-called challenger brands—not market leaders but industry disruptors—were huge this year, making up more than 70% of the brands on Yelp’s list. The data “demonstrates momentum for challenger food, restaurant and retail brands that are quickly becoming the next class of household favorites,” said the report.
Following the top slot, Nebraska-founded Scooter’s Coffee came in at number 2, followed by Longhorn Steakhouse at number 3, and The Habit Burger Grill at number 4. Wawa, the convenience-store chain that has been opening drive-throughs, rounded out the top 5.
Other restaurant chains in the top 10 were Popeye’s, Freddy’s Frozen Custard and Steakburgers, the Olive Garden, and Jersey Mike’s Subs.
One apparel retailer landed in the top 10 as well: Rally House, coming in at number 8, sells team gear and sports apparel for professional and college teams. The retailer, big in the Midwest, has been rapidly expanding with new locations in East Coast states, including New York, Pennsylvania, and New Jersey.
Other food chains that made Yelp’s list of 50 included Panera (number 17), Raising Cane’s (number 18), Playa Bowls (number 44), MOD Pizza (number 20), and Insomnia Cookies (number 49). Yelp noted that Gen Z is big on getting themselves a “little treat,” which has helped businesses that encourage “treating yourself” to thrive.
It also recognized that restaurant chains are leaning into “unique, camera-ready menu options” because with today’s social media, for some, posting photos of lunch might be half the point of going out to eat. If items are shareable online, they seem to be far more enticing to diners. In particular, social media users seem driven by limited-time offers that they can post online.
For restaurant chains, that might not be a bad formula—because if it looks good enough to post, it’s probably good enough to eat, too.
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