If something is thriving, it's doing well — so well you could call it "booming." A thriving retail business sees its products flying off the shelves.
The verb thrive means to flourish or grow vigorously, and it can be applied to something like a business or to something or someone's actual health. Plants can thrive in a greenhouse, and children can thrive if they eat well and exercise. Thriving can also be used more figuratively — "The women thrived on gossip; they loved knowing who was dating or divorcing whom."
