Stat: US Gen Z believe it’s OK to buy counterfeits

US – A survey by JUV Consulting published by The Business of Fashion’s Insights has found that most Gen Z consumers aged 13–25 in the US think it is acceptable for others to buy counterfeits, and more than a third of them are willing to wear fakes themselves.

According to the study, 54% of Gen Z surveyed think it is acceptable for others to buy counterfeits, 30% are neutral on the subject, while only 16% feel strongly that it is not okay. Meanwhile, 37% of the respondents indicated that they would buy counterfeits for themselves, 21% were neutral, and 42% stated firmly that they wouldn’t personally buy fakes.

The counterfeit and pirate goods market is estimated to range from £1.4 trillion ($1.7 trillion, €1.6 trillion) to £3.7 trillion ($4.5 trillion, €4.2 trillion) a year, according to the US Department of Commerce. As revealed in our Generation Z luxury market behaviour report, this group rely on their digital nous to acquire financial acumen and create their own awareness of value – shifting the meaning of aspiration in luxury.