Amid a challenging economic climate, luxury brands seek new ways to prove value to and win over young shoppers. By serving food and drink alongside products, retailers are turning stores into places where consumers can linger, connect, and spend. Coach’s coffee strategy is a prime example.

RH expects Q4 revenues to grow 18% to 20% YoY as furniture industry turns a corner: The retailer’s brand-elevation efforts and hospitality concepts are also resonating with shoppers.

The average price of Ralph Lauren products is up 80% since 2018: The apparel company is focused on elevating its brand perception.

Which categories will perform well in 2023—and which will stumble? Some of this year’s trends will continue into next year, while changing consumer behaviors will drive others’ rise—and possible fall.

Home goods retailers feel the ripple effects of the housing recession: As the housing market slows, so does consumer spending on home-related items such as appliances and furniture.