Purpose: This paper is a study of demographic and psychographic drivers of fashion expenditure and a comparative study of these demographics against the psychographic drivers. Methodology/approach: A sample of shoppers over 3 malls (N = 577) was surveyed using a self administered survey. Regressions, t-tests and Cross tabulations were used to determine differences between demographic characteristics. Findings: For weekly and monthly expenditure, gender and fashion consciousness were significant influences whilst for yearly expenditure gender and impulsiveness were found to be significant. Attitudes towards fashion had no significant influence on expenditure. Females purchase more often and were significantly different from males on yearly expenditure, fashion consciousness, attitudes and impulsiveness. Significant differences were found between cohort groups with Generation Y higher on fashion consciousness, attitudes and impulsiveness. Implications: These findings highlight the importance of fashion retailers focusing on the psychographics of why segments buy rather than targeting segments based upon demographics only. Limitations and future research: Social desirability in self reporting, using a national regional sample and low expected cell counts. Originality/value: The original contribution is through a comparison of the demographic and psychographic influences on perceived fashion expenditure and a comparison of the psychographics for each demographic grouping.