The overview: Many of the trends present during 2022 will continue into 2023 as economic uncertainty weighs on consumers’ purchasing decisions, and inflation continues to make its presence known.
The winners: As in 2022, the biggest category winners will be must-haves like groceries and pet products. Meanwhile, consumers who can afford it will continue to splurge on items ranging from fragrances to makeup to designer handbags, as well as on travel and dining out.
The losers: Categories that performed extremely well during the height of pandemic lockdowns—furniture, electronics, athleisure—will see their fortunes wane slightly in 2023 as consumers opt to spend on travel and formalwear over sweatpants and a new couch. Price considerations will also come into play, and categories that deal in big-ticket items will continue to lose out.
Go further: For more 2023 predictions, check out our Retail Trends to Watch report.
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