“Shopping is cheaper than a psychiatrist,” the weepy Tammy Faye Bakker liked to say, and if Union Square is any indication, we should all be in great mental health these days. Economy be damned, the square is looking strong. Nearly a dozen new style merchants have set up shop in the last year alone, inspired by Barneys and buoyed by international tourists drawn to the weak dollar—and they’ve seriously upped the area’s trend quotient.

The newcomers range from international boutiques like Britain’s Ben Sherman (fellow Brit Paul Smith and Sweden’s Filippa K aren’t far behind) to domestic trendsetters like Tory Burch and Theory (Dolce & Gabbana and True Religion have also been keeping an eye on the area). Bling is booming, too: De Beers opened in June, gold-label designers like Gucci and Prada have moved into larger, more luxurious digs, and Harry Winston is circling overhead.

But it’s not all budget-breaking couture: American Apparel (opening later this year) and H&M cater to shoppers of more modest means. Still, the emphasis of these stores—in sync with the new Union Square attitude—is flaunt-your-own-look, contemporary cool. Meanwhile, hotels around the hub have raised the bar (so to speak) on drinking and dining, with Clock Bar, Bar Drake, Bar Norcini, Level III, and Urban Tavern. After all, shoppers need somewhere other than Café de la Presse to refuel after all that bag-lugging cardio.

SHOPFRONTS
In the new 11,000-square-foot space Gucci is moving into next month, expect lots of glass, gold, and art-deco glam, in addition to that $2,000 “it” bag. 238 Stockton St.

Shoppers were perplexed when Link Theory Holdings closed its Helmut Lang shop in April, just seven months after opening, and replaced it with its tailored-hip label, Theory. 120 Maiden Ln.

Designed like an upscale home, the John Varvatos store made a splash at its May opening. Merchandise includes the designer’s claim-to-fame Chuck Taylor sneaker collection for Converse. 152 Geary St.

To appease the cultlike horde of local customers who swear by her flats, Tory Burch is opening a store here this month. 50 Maiden Ln.

S.F.-based shoe designer Joy Chen-Kolterman’s first retail store, Glory Chen, features her high-end graphic footwear on the ground floor. Deal seekers head upstairs for her lower-priced line, Joy Chen. 134 Maiden Ln.

Ferrari will sell everything but cars at its 4,000-square-foot store, opening next to Ghirardelli in two to three months. 2 Stockton St.

THE TALK
For close to a decade, the question on everyone’s mind has been when the new Prada store would open. The answer came on July 22, when the lux­ury label unveiled its new storefront with a see-and-be-seen soirée. The space is downright modest compared with Prada’s original plan: a Rem Koolhaas tower whose 8,000 porthole windows sparked cheese-grater comparisons. But the retailer downscaled its vision after the post-9/11 recession. 201 Post St.

HANGOUTS
Bar Drake brought mixology to the Sir Francis Drake in July 2007, Level III followed suit in the JW Marriott in June, and Michael Mina expanded his Westin presence with the swanky Clock Bar the next month, offering 27 handcrafted cocktails and dinner-worthy bar bites. Down the street, shoppers walk right through Bar Norcini’s floor-to-ceiling windows to order house-cured salumi and one of 30 Italian wines by the glass. And Hilton gastropub Urban Tavern opened in August. Bar Drake: 450 Powell St.; Level III: 500 Post St.; Clock Bar: 335 Powell St.; Bar Norcini: 225 Powell St.; Urban Tavern: 333 O’Farrell St.

Cantina spurred the local revival of Latin cocktails with its twists on the caipirinha, Pisco Punch, and sangria. Unlike nearby lounges with pricey covers and deafening bass, Cantina offers a more easygoing good time. 580 Sutter St.

Viewed initially as bland, Union Square Park (redesigned in 2002) now succeeds in encouraging passersby to stay awhile, whether to enjoy a cappuccino at Emporio Rulli il Caffe or catch live blues, swing-dancing lessons, or a film as part of the Jewels in the Square program. Bet. Stockton, Geary, Powell, and Post Sts.

ON THIS SPOT
The sculpture of Victory that sits atop Union Square’s 1903 monument to a naval triumph in the Spanish-American War was modeled on none other than Alma Spreckels, founder of the Legion of Honor and the wife of sugar magnate Adolph Spreckels.

GRUB
After a couple of years of musical toques, elegant Campton Place recently welcomed executive chef Srijith Gopinathan and the subtle South Asian twists he brings to the restaurant’s Mediterranean dishes. 340 Stockton St.

At Crêpe O Chocolat, you can go for French-inspired health food (like farro-stuffed squash and homemade granola, in addition to crêpes)—or succumb to the chocolates, com­bined with surprising flavors like cayenne, sun-dried tomatoes, and green tea. 75 O’Farrell St.

Sheltered from the bustle of the square, Anjou serves solid bistro fare and a deal-icious prix fixe lunch. 44 Campton Pl.

WHAT IT COSTS
…to rent: retail space ranges $100–400 per square foot, prices that are second only to New York City’s. Barneys pays close to $3 million annually for its 60,000 square feet, at 77 O’Farrell St.

…to buy: up to $2,248 per square foot, the record-setting price an Irish investment firm paid for the 10,450-​square-foot building (for a total of $23.5 million) that includes the Chanel store, at 155 Maiden Ln.