"Gen Z has dismissed dreams of owning a Birkin bag and has picked up sneakers instead. As luxury struggles to woo a young generation of consumers who have not yet accumulated enough wealth to drop five figures on a handbag, the cohort of 20-somethings has instead become enamored with more affordable fitness activities."
""If you have the ability to get up before work or after work and train and have running shoes and and you can do that, I mean major props to you," New York City influencer Chloe Hechter said in a recent TikTok about the city's "status" symbols. "I feel like saying that you ran-or that you run, or that you're going to run-the New York City Marathon is huge clout in New York.""
""With running, it's the easiest sport, where you can just go outside, put on a pair of speakers," Ramírez told Fortune. "Gen Z is affected the most by the loneliness effect, and a lot of these sports communities-running being the biggest one-it offers a community.""
Gen Z has shifted spending away from ultra-luxury handbags toward sneakers and fitness activities that are more affordable and accessible. Pandemic-era financial setbacks and hiring instability limited wealth accumulation for many young adults, making five-figure luxury purchases unrealistic. A surge in virtual isolation increased demand for community, which running clubs and gyms provide without large expenses. Influencers and events like the New York City Marathon confer social status through participation and fitness achievements rather than expensive goods. Retail trends show fitness-centered leisure and low-cost status symbols rising among 20-somethings seeking community, health, and attainable cultural capital.
Read at Fortune
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