A growing number of Gen Z and Millennials are drawn to affordable and accessible luxury alternatives, with many opting for dupes instead of the real thing.
Despite their interest in luxury goods, a substantial 47% of 13-39-year-olds have never purchased a luxury product due to affordability concerns. Consequently, the majority concur that luxury brands should offer more affordable items for wider accessibility. This has prompted these innovative generations to explore alternative means of acquiring luxury items.
The Thriving GUCCI Dupes Trend Among Gen Z
The luxury resale market, driven by young consumers, offers one way to acquire luxury products at lower prices. According to YPulse, 33% of 13-39-year-olds shop for secondhand luxury items, with high demand for brands like Gucci, Prada, and Louis Vuitton. Moreover, research from The Real Real indicates that sold-out pieces attract 50% more new buyers than regular resale items.
The Rise of Luxury Dupes on Social Media
Another approach that young consumers are adopting to access luxury is by purchasing “dupes” or cheaper imitations of high-end items from affordable brands. This trend has gained significant traction on social media in recent years, with accounts like @dupethat amassing 1.2 million followers on Instagram. Additionally, lifestyle publications frequently share advice on where to find the best luxury dupes. On TikTok, hashtags like #makeupdupes and #dupes have garnered millions of views, with users showcasing fake products from brands like Gucci, Chanel, Lululemon, Louis Vuitton, and Cartier.
A Global Interest in Dupes
Approximately 47% of 13-39-year-olds have purchased a luxury dupe or fake product, with cost being the primary reason they haven’t bought genuine luxury items. This trend has led to a surge in demand for dupes on platforms like Amazon, AliExpress, and DHGate. Interestingly, this phenomenon is not limited to North America; similar numbers have been reported in Western Europe, indicating that the interest in dupes is a global occurrence.
While luxury dupes may be beneficial for cost-conscious young consumers, they may pose challenges for luxury brands seeking to maintain exclusivity and brand value.
The article was adapted from ypulse.com.