The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
In the age of BeReal when authenticity reigns supreme, Gen-Z has surprisingly few qualms about buying fake goods — especially when others are doing it. In a proprietary study of US Gen-Z consumers aged 13-25 fielded by Juv Consulting, BoF Insights found that a majority think it’s acceptable for others to buy counterfeits. Meanwhile, over a third are personally willing to wear dupes. Estimates of the size of the overall counterfeit and pirated goods market vary, ranging from $1.7 trillion and $4.5 trillion a year, making it the largest criminal enterprise in the world.
It’s easier than ever for consumers to buy fakes online. But the spike in counterfeit sales may also have something to do with how brands themselves are pricing and marketing their products.
Find out what makes Gen-Zers so unique and crucial to the fashion industry in the latest BoF Insights report. Co-created with Gen-Zers as well as a host of fashion and social media experts, we unpack what this generation expects from fashion today, and tomorrow.
Consumer spending over Thanksgiving Weekend may have exceeded expectations, but shoppers may be stretching their wallets too thin, analysts say.
A small but growing online fashion community is practising a more critical form of consumption, marrying the quiet luxury trend with a desire for value and environmentally responsible products.
With consumers expected to buy less this holiday season, categories poised to outperform the industry include off-price and personal care. But brands can still appeal to shoppers by conveying a sense of value, whether through discounts or a point of differentiation.
More than a handful of brands confirmed reports of chronic late payments that sparked some vendors to halt shipments to the US department store. Owner Hudson’s Bay Company said it raised $340 million to help fund its retail operations.