Within the realm of MoneyTok — financial content on TikTok — a popular trend is the "dupe economy." As the phrase implies, it's a shopping phenomenon in which young consumers buy knock-offs or less expensive versions of designer brands.
From cosmetics to athleisure to designer handbags, Gen Z is proudly donning $40 handbags that would typically cost $500, or an $8 foundation that shares comparable ingredients to its $80 premium counterparts. Walmart's lookalike version of the luxury Hermès Birkin bag sold out after going viral on TikTok. The "Wirkin" costs between $60 and $100, compared to the Birkin's starting price tag of $10,000.
