2023 has been a year filled with buzzwords surrounding artificial intelligence. And while the growth prospects around AI are exciting, there are plenty of other investment opportunities for those who may not want the added risk of volatile software businesses in their portfolio.

While the Federal Reserve has worked tirelessly to combat inflation, October's rate of 3.2% is still much higher than the Fed's long-term goal of 2%. The consumer discretionary sector, in particular, has been among the hardest hit during this period of high inflation and elevated borrowing costs. This sector has struggled to generate growth commensurate with prior periods, and not surprisingly, constituent stock prices have fallen.

I'm going to break down three Warren Buffett consumer stocks that could represent unique buying opportunities right now. While the growth may not mimic that of high-flying software businesses, each of the companies is a best-in-class brand and pays a dividend. With some on Wall Street calling for a new bull market, now could be a really opportune time to open or add to positions in the stocks explored below.

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Source Fool.com