If you ask investors with an interest in the consumer discretionary sector these days to name some stocks to consider in the sector, they might mention established names such as Nike or Walt Disney. Given the bear market mentality of the moment, they tend to see such stocks as relatively safe, even if they typically don't produce rapid returns.

But suppose you want to dig a little deeper into the consumer-oriented companies trying to get ahead, looking for ones carving out a niche for themselves in their markets. Doing so, you will likely come across some stocks running counter to these conservative assumptions that are producing considerable growth. Airbnb (ABNB 2.08%) and Dutch Bros (BROS -1.02%) are two such consumer discretionary stocks. The different approaches these two stocks take are drawing increased customer interest and that could lead to market-beating stock growth.

1. Airbnb

Perhaps no company in recent years has held a more transformative influence over the lodging industry than Airbnb. Though Expedia's Vrbo technically invented the industry, Airbnb has surpassed that industry pioneer on many levels.

Airbnb accomplished its successes with a reliance on key strengths such as a focus on growing its community and unlocking more opportunities to host and add product lines. Another strategy was to leverage AI effectively, allowing it to understand its customers better and set pricing of properties based on location, time of year, and other factors. As of the end of Q4, Airbnb's site listed more than 6.6 million active properties.

Over its existence, Airbnb's management proved its ability to adapt quickly to changing business conditions. For example, it weathered the pandemic well compared with other travel companies, slashing executive salaries and marketing spending as it shifted its focus to meet the changing demand for home rentals. Those moves probably minimized revenue declines and costs during that dark period in its industry.

Such resilience also extends to its current financials. In 2022, Airbnb brought in $8.4 billion in revenue, 40% higher than year-ago levels. The company credited both strong demand and supply growth for that increase. It also turned an annual GAAP profit for the first time, earning $1.9 billion. A sharp rise in operating income, lower interest costs, and higher interest income led to the GAAP net income.

Admittedly, Airbnb has gapped downward over the last year, but year to date, the stock surged much higher. And despite that increase, its P/E ratio stands at about 42, arguably making it a no-brainer buying opportunity given the revenue growth and its newly profitable status. As more customers and property owners turn to Airbnb, the stock surge can certainly continue.

2. Dutch Bros

Among coffee stocks, Starbucks may finally have a formidable challenger in Dutch Bros. Consumers have taken to its wide assortment of coffees, teas, lemonades, and energy drinks. That's especially true of its Dutch Classics, drinks that mix espresso with half-and-half and other ingredients.

It also helps that more customers can buy these drinks thanks to its aggressive push to open new locations across the western half of the United States. The company operated 671 shops as of the end of 2022, approximately double the 2019 levels. Also, the company reiterated on the Q4 2022 earnings call that it plans to add 150 locations this year and believes it can reach 4,000 shops in 10 to 15 years.

That doesn't mean Dutch Bros is immune to economic struggles. The production costs associated with coffee, milk, sugar, labor, and many other inputs continue to rise at a significant pace. Still, between the company's price increases and rising shop counts, growth remains rapid. Revenue of $739 million grew 48% from 2021.

In addition, losses in 2022 fell to $19 million from nearly $118 million in 2021. With Dutch Bros predicting between $950 million and $1 billion in revenue and $125 million in EBITDA for 2023, it could soon turn profitable on a GAAP basis this year.

Investors may have already begun to take notice. Year to date, it has outperformed the S&P 500 for most of the year. Moreover, the valuation is not far from record lows, trading at just over 2 times sales. With its aggressive expansion plan in full swing amid a sluggish economy, Dutch Bros is likely to head higher over time.