There was a post here that I have read and it talks about normcore - which “isn’t about rebelling against or giving into the status quo; but is about letting go of the need to look distinctive, to make time for something new”. Read the article here.
We now see fashion as something that you must be in to, something you must belong instead of being distinct. The advertisements we see in TV and other medias make us want to fight to be the first to that such clothes. The distinction we now want is the attention we want to get from others. We fight for being the first to own such brands until everybody seems to look the same.
While go for the pricey ones, others prefer the imitation brands or go with second-hand and/or cheap stuff. With the advent of internet, online shops have come abound and easy access to getting what we want.
I guess this does not only go with fashion. It is applicable in our lifestyle as well. In this fast-paced times, we easily grew tired of things that we don't really appreciate what we have. There is no more sense of individualism because we want what others have, trying to be someone else.