Why the Most Coveted Products Are Surprisingly Affordable

Stephanie Novak used to see herself as a luxury shopper.

The 36-year-old Chicago native routinely purchased ready-to-wear from brands like Givenchy and Saint Laurent, and would splurge on a few handbags a year. Her top choices: Chanel, Goyard and Hermès.

But it’s been about two years since she purchased anything new from those labels.These days, she’s mostly buying pieces from mid-priced and contemporary brands like Buck Mason, Reformation and Sézane, or even mall chains like Madewell.

Those brands’ lower prices are a selling point, particularly as her former favourites have raised prices repeatedly in recent years. But more important to Novak is that the quality and design don’t feel so far off from what luxury has to offer.

“I have my money, I want to spend my money, but there’s just nothing exciting,” said Novak, who works as a marketing manager at a healthcare tech company. She added she is “actively” on the market for another designer bag but so far nothing has caught her fancy.

Novak reflects a wider shift among consumers. While the cracks in the European luxury monoculture have been forming for years, it’s increasingly apparent that these brands aren’t just losing customers — they’re losing their dominant hold in the attention economy.

In Lyst’s report of the hottest products in the fourth quarter of 2025, five out of the 10 buzziest pieces are from sub-luxury labels, including a quarter-zip from Ralph Lauren and a puffer jacket by Zara’s sister brand Massimo Dutti. Two years ago, the only puffy jacket on the list was Loewe’s padded bomber. Which is to say nothing of how the list looked in the fourth quarter of 2017, when Gucci and Balenciaga alone accounted for five spots and there were no non-luxury brands whatsoever.

Or consider the trajectory of the balletcore trend: When ballet flats first appeared on the Lyst hot products list, they were a satin pair from Miu Miu costing just under $1,000. In 2024, two even pricier pairs from Alaïa made the list. This year, ballet flats made three appearances: this time, they were from Puma, Ancient Greek Sandals and most recently Ugg in the fourth quarter. None retailed for over $150.

Big luxury brands still make up the bulk of Lyst’s 20 hottest brands overall, but they aren’t catching mindshare like they used to, taking 13 slots on the latest list, down from 18 at the start of 2022. Prada, Valentino and Bottega Veneta now compete with Coach, Nike and Skims for top spots. Lyst’s data examines the shopping behaviour of its users, including searches, product views and purchases on the platform, as well as how brands are mentioned and engaged with on social media, though it doesn’t capture as much information about brands that don’t sell as much product online such as Chanel or Hermès.

On Phia, an AI-powered shopping app that allows users to compare prices on specific products, the top brand searches are for accessible and contemporary brands like Alo, Coach, Lululemon, Longchamp, Ugg and Aritzia. Last week, top items on the platform include a Cos jacket, a sports bra from Set Active and sweaters from J.Crew and Quince. Where luxury still over-indexes, however, is the handbag category.

Relentless price hikes in luxury have alienated shoppers and this plays a crucial role in the rise of the more accessible end of the market. But it’s the wider system in which fashion operates today that lends longevity to the trend: the power of social media, direct-to-consumer distribution and new cultural values around democratising fashion.

“Essentially luxury overreached on pricing while under-delivering on innovation. And that created this massive opportunity for contemporary and premium brands to offer a better value proposition to a disillusioned customer base,” said Katy Lubin, Lyst’s vice president of brand and communications. “And on that, I don’t know if that pendulum will swing back.”

The Bag That Started the Trend

Lubin pinpoints Uniqlo’s nylon shoulder bag, which snagged the No. 1 spot in the first quarter of 2023, as an inflection point. Engagement with contemporary or premium brands, defined as having an average order value more than $100 and $400 respectively, began to soar, more than quadrupling between 2022 and today.

The reason behind this sharp turn in consumer behaviour is what Lubin calls a “restructuring of aspiration itself.” Whereas before, the cachet of luxury was the top motivating factor in how shoppers browse and talk about fashion, today people are interested more in products themselves rather than the logos they bear, she said.

“There’s a difference now where shoppers want the cult status of a piece rather than the prestige of a brand,” Lubin told BoF. “This levels the playing field for these premium and contemporary brands who, in a lot of cases, can achieve brand heat to get into that mix by being really really good at a specific product, whether that’s Ugg doing boots or Khaite being very good at jeans.”

The explosion of the creator community on TikTok has been a major vehicle of amplification for more accessible brands, because without prohibitive price tags, users can buy their own pieces rather than rely on gifting and make content around what they genuinely like.

Post-pandemic, the value of participating in a certain trend has grown exponentially as young consumers strive for a sense of belonging. “It’s about feeling like you’re a part of something,” said Lubin. “That’s where the cachet comes from, and a lot of contemporary brands have been able to propel their visibility … by [promoting] a hit product.”

Conversely, having a unique sense of style has also gained more credibility over logomania.

“It’s gotten to the level where touting a designer item has become an ‘ick,’” said Bella Gerard, contributing editor for Marie Claire and author of shopping Substack “B-List.” Like Novak, Gerard used to be a luxury fanatic when it came to accessories, but now finds herself more drawn to brands like COS, Tibi and Tory Burch.

‘It’s not enough to make someone look stylish and I often think it prioritises showing off personal wealth rather than personal style,” she added.

Even so, Gerard contended that her break from luxury may be temporary. After all, the likes of Gucci and Dior are in the very early stages of creative revitalisation, and the desire for luxury elsewhere is still well and alive: One of Lyst’s fastest growing brands on the platform last quarter is Charvet, a Parisian label known for shirts that often retail north of $700.