People have gone from coveting new clothes to coveting the next big experience. Buying new clothes used to be the ultimate pleasure in feeling good. However as consumers are becoming more interested in experiences they are needing more money to spend on these experiences that make them feel good. They are buying less new clothes. When they do buy new items they are instead mixing them with more old items.
Having and wearing something ‘new’ is becoming of a lesser importance than it was over the previous decade. While the fashion consumer does enjoy ‘new’ items it is something they more readily mix with that which is old. Mixing new with old is a more conscious decision on the consumers part to maximise their resources. Not everything the consumer wants has to be brand spanking new. Rather the old can be recreated or mixed with the new to give a fresh feel that makes the consumer feel just as good.
As fashion brands how are you incorporating this insight into your strategies? The solution is in digging deeper into the insight of mixing new and old and giving consumers solutions that offer a multiple benefit effect. These benefits could speak into affordability and more money to spend on experiences. Executions could involve clothing exchanges, vintage buys all under the same roof where new clothes can be bought.