If the youth are the market who invest a decent amount of their time and energy into discovering fashion and purchasing it then just exactly how much are they willing to pay for it?
The price they are willing to pay particularly relates to up and coming local designers. This is something I have established in my previous piece “Buy local fashion – how to create demand” where I found out that they would like to support South African designers but they have to check a few boxes. Also the designer must sell products that they can afford.
In a fashion market that they believe is too mass and where every second store you see the same thing but just with a different name on it they are hungry for more unique solutions that local designers can offer them. This is because they want clothes that are more fitted to their lives and supports them in living their dreams.
Then what amount can they afford? It is relative to the product being sold. For a t-shirt respondents said they would pay anywhere from R150 – R270. When it comes to dresses, shoes and accessories they would pay R250 – R500. The highest price they would pay for a timeless piece such as a jacket would be R800.
These prices are fair and if you target the youth market effectively it can be very lucrative.
They, as a market, are very receptive to local fashion and would even be willing to pre-order and pre-pay for the product as long as they receive it in a reasonable time and that there is someone they can safely hold accountable for their order.
They, as a market, are very receptive to local fashion and would even be willing to pre-order and pre-pay for the product as long as they receive it in a reasonable time and that there is someone they can safely hold accountable for their order. Their money is their precious resource and they want to spend it worthily where they don’t feel like they have lost out in any way.
The youth aren’t as lazy as the older generation may think. Many are doing their part-time jobs, investing in entrepreneurial endeavours to grow their wealth from an early age and carving hybrid career paths where they can generate income from multiple industries and sources. On the other hand you have the youth who are fully dedicated to their studies but make money through promotions, events, au-pairing and tutoring.
This is so they can have money to buy the things they want without having to rely on others to give them money or because there is no one to give them money. They don’t want to be left behind.
Article by Gabrielle Mixon
TrendER Insights’ Fashion Researcher, Communicator & Trend Analyst