Dressing Up to Pack Lunch: Gen Z's New Conspicuous Consumption
It's fascinating, isn't it? We're seeing a complete flip in how young people signal status. Economist Thorstein Veblen, way back in 1899, coined "conspicuous consumption" to describe buying things just to show off. Now? Gen Z is packing their own lunches, skipping the daily Chipotle run, and then dropping serious cash on a Coach bag or Louboutin stilettos! It's not just about the stuff anymore, it's about the statement. What does this say about the future of aspiration?
The numbers don't lie. While fast-casual chains are feeling the pinch, Tapestry, Coach's parent company, is boasting that Gen Z makes up a whopping 35% of their new customers. CEO Joanne Crevoiserat told CNBC that these young consumers are "highly fashion-engaged, spending slightly more of their budget on fashion." It's a paradox, or is it? They’re cutting back on the small, everyday luxuries to afford something that screams, "I have taste! I have self-control! And yes, I look amazing."
The Performance of Aspiration
Think of it this way: it’s "vicarious leisure," as Veblen might call it. That $400 Coach tote isn't just a bag; it's a symbol of delayed gratification, a badge of honor earned by resisting the urge to splurge on takeout every day. And those Louboutins? The New York Times reports a massive 82% surge in sales among Gen Z buyers on resale sites like The RealReal, driven by influencers like Addison Rae. The discomfort is part of the point! It is visible pain endured for the privilege of being seen enduring it. It's a performance, a carefully curated image broadcast across TikTok and Instagram.
And it’s not just the women. Gen Z men are flashing luxury Swiss watches, turning them into social currency on social media. Sotheby's estimated that nearly a third of its watch sales in 2023 went to buyers under 30! What does it mean when a generation, facing economic uncertainty, is so invested in projecting an image of success, even if it means sacrificing daily comforts?
This shift is fueled by social media. A Boston Consulting Group report revealed that Gen Z and Gen Alpha will drive over 40% of U.S. fashion spending in the next decade, already spending 7% more of their discretionary income on clothing and shoes than older adults. 65% of Gen Z consumers say social media is their primary source of fashion discovery! That's more than double any older generation. And nearly half are buying products directly because they saw them on TikTok or Instagram. This is the key—influencer culture has turned the public exhibition of wealth into the performance of aspiration, a carefully edited highlight reel of our best selves.
We're seeing the rise of "affordable opulence," too. The "Ralph Lauren Christmas" trend on TikTok, with its plaid ribbons and velvet drapes recreated from dollar-store finds, perfectly captures this desire to evoke wealth without the actual cost. Searches for the phrase are up over 600%, and Etsy searches for related decor are up 180%. Younger consumers are performing taste with efficiency, using creative reuse rather than pure cash flow to achieve distinction.
But let's not get carried away. This constant striving for social reassurance, as Veblen himself pointed out, isn't necessarily about the goods themselves. It's about the evidence of wealth, the projection of a certain image. And that's where things get tricky. Ten-year-olds are saving up for $70 moisturizers and $90 serums, mimicking influencer routines and even suffering chemical burns from overusing anti-aging products. It's an early initiation into the aesthetics of conspicuous consumption, and I have to say, it makes me pause.
