Interesting to observe that whilst Hipsters are buying status by fashion and “statement” limited edition gear, that we’re observing knowledge as the true status symbol.
No longer are traditional status symbols the preserve of the “worthy” – designer labels, car, watches etc are being bought by every Sharon and Tracey chav with a bank account (or credit card really), and true desinger labels are becoming less conspicuous and more considered. In order to stand out in society, “geeks” – knowledge seekers and specialists, regardless of area of passion – are leading the way. Experience and story-telling is what really brings people together, and shows you as having greater standing.
Brands are picking up on this – Trendwatching has a report on Status Stories.
What’s interesting, is that whilst the economy is crumbling, and experiences are all that make you stand out, “Hipsters” (ugh) are the fastest growing economy in the US. Forbes reports on their immense spending power – and in fact influence on the afforementioned credit buyers – and how Urban Outfitters are bucking the trend of economic decline. Surely helped by “unique” or “limited edition” items that give the impresison of indivuality and stand out (true hipsterness), but in fact allowing people less at the cutting edge to buy into it, Urban Outfitters, Marc Jacobs and Edun have all consciously and successfully targetted this consumer group.
It’s not that companies are definitely profiting from hipsters in the here and now, it’s that the hipster demographic is currently more powerful than any previous counterculture, yet still has a lot of growing up and spending to do in the future. Millions of hipsters are too young to spend real money yet!
Read the Forbes article here
Status Economy – Hipsters vs Geeks
Interesting to observe that whilst Hipsters are buying status by fashion and “statement” limited edition gear, that we’re observing knowledge as the true status symbol.
No longer are traditional status symbols the preserve of the “worthy” – designer labels, car, watches etc are being bought by every Sharon and Tracey chav with a bank account (or credit card really), and true desinger labels are becoming less conspicuous and more considered. In order to stand out in society, “geeks” – knowledge seekers and specialists, regardless of area of passion – are leading the way. Experience and story-telling is what really brings people together, and shows you as having greater standing.
Brands are picking up on this – Trendwatching has a report on Status Stories.
What’s interesting, is that whilst the economy is crumbling, and experiences are all that make you stand out, “Hipsters” (ugh) are the fastest growing economy in the US. Forbes reports on their immense spending power – and in fact influence on the afforementioned credit buyers – and how Urban Outfitters are bucking the trend of economic decline. Surely helped by “unique” or “limited edition” items that give the impresison of indivuality and stand out (true hipsterness), but in fact allowing people less at the cutting edge to buy into it, Urban Outfitters, Marc Jacobs and Edun have all consciously and successfully targetted this consumer group.
It’s not that companies are definitely profiting from hipsters in the here and now, it’s that the hipster demographic is currently more powerful than any previous counterculture, yet still has a lot of growing up and spending to do in the future. Millions of hipsters are too young to spend real money yet!
Read the Forbes article here