The Designer Revolution: Over Half Of Brits Now Own Luxury Items
As the anticipation for London Fashion Week mounts, the focus isn’t solely on the models showcasing designer outfits on the runway. A significant cultural shift towards luxury fashion is evident across Britain.
A study conducted by Gen Z insights company Prograd* has unveiled that 55% of people in Britain now include at least one designer item in their personal collection, highlighting a marked move towards premium fashion.
Designer Demographics: Gen Z at the Forefront
The push towards high-end fashion is notably led by the Gen Z population, with an impressive 57% reported to possess designer wear. This figure surpasses that of Millennials at 50% and Gen X at 43%, indicating a strong affinity for luxury brands among the younger generation.
The trend transcends gender boundaries as well, with findings showing that 12% of men own a significant array of designer items, in contrast to 6% of women, signaling a shift in fashion perceptions amongst different demographics.
The Investment Wardrobe: Beyond Just Style
The appeal of designer wear extends beyond mere aesthetics for many. As per the research, 25% of Brits now view their designer apparel not just as clothing but as valuable assets.
This perspective is reinforced by the performance of certain designer accessories and handbags, which have shown to yield returns surpassing those of traditional investments like the S&P 500. Additionally, nearly one in five Brits (17%) purchase designer items for significant celebrations such as milestone birthdays, with 10% acquiring them through inheritance, underscoring the sentimental and intrinsic value these items often hold.
Second-Hand Chic: The Rise of Sustainable Luxury
Despite economic challenges, the demand for luxury fashion remains robust, partly due to the growing popularity of the second-hand market. This has democratised access to designer fashion, with a notable 64.5% of Gen Z adopting second-hand clothing.
This trend towards sustainable fashion is further supported by 70% of women and 47% of men who prefer purchasing pre-owned designer items, challenging the norms of fast fashion and advocating for a shift towards quality and environmental consciousness.
Quality Over Quantity: The Search for Durability
The majority of consumers, 72% to be exact, now value quality over quantity when it comes to their wardrobe, with 24% citing the superior quality of designer goods as their primary motivation for their purchases.
Faux Fashion: Navigating the World of Counterfeits
Despite the shift towards genuine luxury fashion, the industry faces the ongoing issue of counterfeit goods. A substantial 31% of Brits acknowledge owning counterfeit designer pieces, with nearly half (47%) stating the difficulty in distinguishing them from genuine items and about 7% admitting to buying fakes to project a wealthier image.
This inclination towards portraying a certain lifestyle is more pronounced among men than women, with 10% of males compared to 5% of females seeking to showcase a luxurious image.
Marco Loguidice, Co-Founder at Gen Z insights brand Prograd, reflected, “As we get closer to London Fashion week, it’s clear that Brits are not just seeing designer fashion as a trend; but a movement towards quality, sustainability, personal identity and investment value. This year’s Fashion Week isn’t just a showcase of trends; it’s a testament to fashion’s role as a movement towards more conscious, financially responsible consumption.”
For detailed Gen Z insights, explore https://www.prograd.uk/