Luxury fashion is undergoing a revolution. As the market welcomes a growing number of Gen Yers and Zers, the values once ascribed to luxury are less relevant. Streetwear company Madhappy is seizing this moment, setting an example for high-end brands looking to attract a younger cohort.
Gen Zers are a tricky yet intriguing generation to grasp – they’re offline-shopping, eco-conscious, genre-defying, values-defending mavericks. As they grow into adolescence and adulthood, what do Gen Zers actually think is cool and how can brands appeal to this cohort’s unique mindset?
Dripping with diamonds might once have been the ultimate status symbol, but these days buying organic is equally likely to win you prestige. Canvas8 spoke with Elizabeth Currid-Halkett, a consumer economy expert, to understand how markers of social status in America are currently evolving.
How is streetwear changing the world of fashion? Why are people gravitating towards pre-owned luxe? And what’s compelling brands to get creative with influencers? In this part of the 2020 Expert Outlook, we speak to three experts about the evolving shopping habits of high-end consumers.
Gen Yers’ gloomy financial future is well-documented, making indulging in high fashion less feasible than it has been for older generations. In response to this reality, luxury label Off-White is hoping to win over Gen Y buyers – and their loyalty – by releasing entry-level collections they can actually afford.