"When economist Thorstein Veblen coined the term "conspicuous consumption" in 1899, he was describing a new kind of social display: one where people bought goods not out of need but as "trophies of success." To Veblen, the emerging "leisure class" proved its superiority not by labor or contribution but by its seeming exemption from work and its power to waste."
""We're attracting younger consumers at a faster pace," CEO Joanne Crevoiserat told CNBC. "The Gen Z consumer is highly fashion-engaged, spending slightly more of their budget on fashion." This new spending pattern resembles what Veblen once called "vicarious leisure," displaying discernment rather than wealth. A $400 Coach tote bought instead of a week of takeout lunches becomes both reward and reassurance: proof of self-control and style all at once."
Thorstein Veblen's concept of conspicuous consumption describes purchasing as social display and trophies of success. Younger consumers are trimming routine indulgences and reallocating savings toward statement fashion items. Fast-casual chains reported softer sales as Gen Z packs lunches, while Coach says Gen Z makes up roughly 35% of new customers, helping it outperform expectations. Influencer-driven demand and the appeal of "vicarious leisure" are driving resale spikes—Christian Louboutin resale rose 82% among new Gen Z buyers—and motivating purchases that signal style, restraint, and social distinction rather than continual small pleasures.
Read at Fortune
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