Is Gen Z skipping small indulgences to save up for luxury? While daily purchase brands like fast-casual chains reported weaker sales this fall and attribute it to Gen Z, mid-range and secondhand luxury are succeeding. Tapestry, Coach’s parent company, says Gen Z now accounts for 35% of its new customers. And Gen Z men remain 30% of first-hand luxury Swiss watch purchasers. On The RealReal, Christian Louboutin stiletto sales have surged to 82% among Gen Z. Choosing a $400 Coach tote instead of a few weeks of takeout becomes “both reward and reassurance,” acting as proof of self-control and style all at once. Gen Z already spends 7% more of their discretionary income on fashion than older adults, which might be about prioritizing visible proof of taste over invisible daily comforts. However, we know their little treat culture is going strong, so pull back on eating out might not be just to benefit their closet. (Fortune)
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