What: Gen Z and millennial consumers are driving a significant shift in luxury retail by prioritising affordable dupes over traditional luxury items, with 71% of Gen Z shoppers actively seeking these alternatives.

Why it is important: The success of dupe products reflects a broader restructuring of the luxury retail landscape, where traditional notions of exclusivity are being replaced by demands for transparency, value, and authentic brand experiences.

The rise of dupe products, which offer similar design and functionality to luxury items at more accessible price points, is reshaping the retail landscape. These alternatives have gained particular traction among younger consumers, with Gen Z leading at 71% purchase rate and millennials following at 67%. This shift comes as the luxury market experiences a decline from USD 387 billion to USD 381 billion, reflecting changing consumer priorities and economic pressures. Successful dupe brands like Quince have capitalised on this trend, doubling their revenues from USD 140 million in 2022 to USD 340.3 million in 2024 through a manufacturer-to-consumer model. The movement extends beyond fashion into categories like fragrance, where brands such as Dossier offer alternatives to high-end products at a fraction of the price. Industry experts emphasise that successful dupe brands maintain quality and develop distinct brand identities while offering more accessible price points.

IADS Notes: The dupe phenomenon aligns with significant shifts in luxury retail observed over the past year. In February 2025, South Korean youth began abandoning traditional luxury brands for affordable alternatives, while December 2024 data showed luxury brands responding by introducing more products under USD 500. This transformation reflects broader industry challenges, as brands struggle to balance cultural relevance with exclusivity. The trend particularly resonates with Gen Z's preference for 'chaotic customisation', while also aligning with the growing focus on experiential luxury and sustainability, demonstrating a fundamental shift in how younger consumers define and engage with luxury brands.

The rise of dupes: Why affordable luxury alternatives are thriving in retail