Its selection of merchandise comprises a variety of discounted household goods, apparel, pet supplies, kitchen pantry staples, and seasonal products (holiday, gardening, patio, pool and beach supplies); a majority of these items are unsold and/or excess merchandise purchased in bulk from other retailers such as Walmart, Publix, or Target that are then sold at deeply discounted prices.

[9][10][11] In 2017, the company completed a 500,000-square-foot (46,000 m2) expansion of its warehouse in North Kingstown, making it the building with the largest footprint in Rhode Island with a total of 1,250,000 square feet (116,000 m2).

[14][15][16] Ocean State Job Lot is a family-run privately-held business with its corporate headquarters and distribution center in North Kingstown, RI at Quonset Point.

[3] During its expansion, the company has revitalized numerous commercial spaces and shopping plazas throughout the Northeast by acquiring vacant properties once occupied by other retailers.

[17][18][19] OSJL's business model involves purchasing merchandise directly from manufacturers and other retailers such Walmart/Sam's Club, Publix, Winn-Dixie, Kroger, Costco, Whole Foods Market, TJX-owned stores, and Target in bulk and selling in smaller quantities to customers with the minimum operational and distribution costs.