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Opinion – does ‘luxury’ fashion still exist?

Luxury fashion has gone from being revered for its high quality, to now being coveted for its exclusivity.

It’s no secret that luxury brands have abandoned value for money and traded it for an exclusivity-price ratio. 

Many consider this a marketing strategy, especially in an era where social media incentivises us to try to demonstrate our status through what we wear and buy.

The fewer people have an item, the more attractive that item becomes. An example of this is the growing population of individuals attempting to hunt down an Hermès Birkin bag.

People have started sharing tips on how to obtain one without questioning what the brand has done to justify their extortionate price.

We also cannot ignore that we live in the age of excellent dupes, whether you’re interested in designer clothing, accessories, makeup, or frag.

It is very likely that if you want an item from one of these luxury brands, you can search social networks like TikTok to find a good quality dupe at a quarter of the price.

If the price of this dupe is too high for your budget, you’ll likely also find another version of this dupe at an even lower price.

@mikaylanogueira HOW DO THEY GET AWAY WITH THIS?😂👀😳 #makeup #beauty #dupe #dupes #makeupdupes #affordablemakeup ♬ original sound – Mikayla Nogueira

Several websites have gone viral for offering  exact replicas of various luxury products at a significantly reduced price. 

Manufacturers, customers, and influencers alike consider these items to be of the same quality, with some websites even claiming to use the same production factories as luxury brands. 

Although social media platforms have tried to fight the promotion of various piracy websites, they haven’t yet been successful.

@lexwolff Under $100 for this beauty!! #dhgate #yslbag #ysl ♬ original sound – ur mom &lt3

All these factors, in addition to global economic uncertainty, have made the led customers of luxury fashion houses decide to stop their purchases.

This has resulted in luxury brand revenue falling by a massive 16 percent, according to the latest reports. 

The decline in luxury sales has been accelerated by digital-native brands offering high-quality products at lower prices, directly challenging traditional luxury brands. 

These new competitors have captured consumers who now value genuine product quality and sustainability over paying for brand names and artificial scarcity.

@itsryanto Anya has mastered marketing and mixed media. Her clothing brand @karocrafts is a great case of how to use storytelling in your content. #creator #merch #creativedirector #clothingbrands ♬ original sound – Ryan To

Contributing to this decline in sales is the trend of conscious consumerism, with consumers choosing to support environmentally responsible brands and embracing second-hand options as part of their efforts to reduce their own carbon footprint and to give longer life spans to pre-loved clothes.

This shift in consumer behavior is clearly demonstrated by the success of second-hand clothing platforms like Depop, which reported revenue growth of up to 61 percent In their latest financial reports.

What do you think? Will the scarcity marketing gimmick be the end of the luxury brands, or will they be able to maintain their reputation, despite ignoring the complaints of their core customers?

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