Gen Z blamed for rising sales of counterfeit luxury goods
Gen Z are driving the sales of counterfeit luxury items on the back of the availability of these products at lower costs on e-commerce sites, therefore, harming legitimate Australian luxury businesses.
Marian Makkar, senior lecturer in marketing at RMIT University, said that the rise of celebrities flaunting their luxury possessions on social media significantly influences their followers, especially Gen Z.
This has led manufacturers of these counterfeit items to collaborate with influencers and online stockists such as Amazon, Sugargoo, Pandabuy and Taobao to promote their products to young consumers.
“The popularity of superfakes also harms legitimate Australian brands and businesses by contributing to an underground, illegal, and unethical economy,” said Makkar.
“Some ways for young consumers to experience luxury fashion while avoiding the harmful effects of the superfake culture could be through purchasing entry-level luxury lines such as Bvlgari sunglasses over handbags.”
Makkar added that purchasing pre-loved luxury goods is another way to afford these products and contribute to sustainable practices.
“There are many online and physical marketplaces that resell legitimate luxury items at a reduced price,” said Makkar.