Social media has been inundated with fast-moving trends, called microtrends, that are in one second and out the next.
While fashion is known to be cyclical…
Microtrends convince people to make impulsive financial decisions they might regret later…
Here’s why you should think twice before giving in to the latest hot trend…
The Problem With Microtrends…
Microtrends might be cool and endearing to some, but as soon the hottest new look lands on your feed…
The trend is already old news.
The main issue behind microtrends is that they convince people online to buy into a trend they haven’t otherwise considered…
Leading to a cycle of financial strain.
Fast fashion paired with influencer marketing has created the perfect landscape for audiences to be influenced into buying clothes they normally would not wear…
WHICH JUST CREATES AN EXCESS OF STUFF PEOPLE DON’T NEED TO STAY ON TOP OF WHAT’S COOL AT THIS MOMENT.
TikTok Shop basically spawns new microtrends every day. The shopping platform has over 55,000 US-based sellers, and the company has a major incentive to promote microtrends…
After all, the company takes a cut of 2% plus 30 cents from every TikTok Shop transaction.
AND WITH SOME SELLERS REPORTEDLY MAKING OVER ONE MILLION DOLLARS A DAY, THAT’S A BIG PAYOUT FOR THE SHORT-FORM MEDIA APP.
Shein also greatly benefits from Microtrends. The fast fashion retailer, now valued at $66 billion, puts thousands of new items on its website every day…
Meaning there’s always something to help fuel the next five-minute trend.
To make matters worse, these short-lived trends will often make their way to thrift store donation bins when they fall out of style
But what makes microtrends so harmful to consumers?
Fighting Back Against The Latest Trend
As more microtrends get people shopping…
MORE PEOPLE SPEND MONEY ON CLOTHES AND STYLES THAT THEY REALLY DON’T NEED.
Younger generations are especially vulnerable to the excess of microtrends. Influences they admire push these quick trends…
And their social media algorithms funnel more microtrends to their feeds constantly.
While shopping for a few nice pieces of clothing is not inherently bad, the issue comes from spending too much money on impulsive purchases.
In Q2 of 2024, the average debt per borrower is $6,329… an increase of $5,947 from last year. Not to mention, retail spending this year is way up compared to 2018.
Impulsive spending can heavily contribute to increased credit card debt, which can take a long time to get out of…
Which is why microtrends can be so dangerous for some.
Thankfully more people online have been starting movements to convince people to avoid the quick trends. Both the “no-buy” challenge and the underconsumption movement have been telling people that it’s cool to not buy stuff…
Looking Forward
Ultimately, while we’re all responsible for our own finances…
We have to confront microtrends before we get caught up in spending our money on clothes we don’t even like.
Be Great,
GCTV Staff
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