VICE – Fashion Forecast, 2024

The world has changed, with young people experiencing shifts in various aspects of their lives. They are becoming more strategic with their finances, using research-based strategies and professional tracking tools to monitor investments. Young people are also seeking ways to supplement their income with side hustles, with many considering starting their own businesses. This shift in mindset is leading them to rethink fashion ownership, considering it as an investment rather than just a purchase for personal enjoyment. With the cost of living crisis and a desire for wearable fashion, luxury fashion purchases are being justified based on potential resale value. Young people are shopping with a "return on fashion investment" in mind, using resale sites and apps to forecast the value retention of designer items before purchasing. This trend is influenced by the gig economy and the reality that homeownership may not be achievable for many young individuals. Fashion is now seen as a financial investment, with luxury pieces serving as valuable assets even without traditional property ownership.