This is true of every society we have ever been able to observe. Fashion, strangely enough, is a vital part of this.
It is not something invented by the capitalists to keep us in thrall. Nor is it mere vanity to want to look good or anything.
Observe any group of teenagers arguing over the latest sneakers — or if you prefer a different example, the latest dance band or movie — and the point is always relative social status.
Those who have the new, the more expensive, have higher status. This is not something about fashion, it is something about people.
In more technical terms new clothes, or fashionable ones, are not about clothes at all, they are a proxy for the thing really being attained which is that social status.