La Generation Z it confirmed essential for the well-being of global luxury, but recent surveys, on the other hand, seem to predict an inexorable weakening of this important slice of consumers.
This is highlighted by a study by Untold Insights, in which it emerges how much the cost of life is negatively influencing the participation of younger people in the luxury market: Gen Z, in fact, seems increasingly prefer cheap products, often reproductions or fooled (fake) high luxury items with a decidedly higher price.
Gen Z, therefore, is more aware of the risks associated with this type of purchase, usually fast fashion and unethical, but at the same time the study finds that one in three Europeans (31% of the population interviewed) think it is correct to buy products fooled if the original items are particularly expensive; this stat hovers around one in two Europeans if we consider i consumers aged between 15 and 24 years.
Furthermore, from the analysis of Untold Insights, it emerges that during the last year at least the 13% of European citizens have intentionally purchased counterfeit products (number reaching 26% in the case of Gen Z respondents), although the majority of them know the disastrous effects of consumerism at all costs and without scruples.
