Yes fashion preferences and style also changes as the person gets older by time a person gets more mature and the personality changes as the personality changes the fashion style also changes .
Lifestyle changes :
As the lifestyle changes the style changes as per the profession requirement . Carrier , family and social responsibility can influence your fashion style . Every age cant be same a child will go with the trend and an adult will go with the responsibility and then a represented person will go with his social responsibilities life never be the same too as style ..
Body changes :
As you began to get older your body shape changes once u will be skinny and at some age you will be fat or fit as per the body shape the style changes it is hard to mantain a physique to a certain age you will have to change your style as per the situation of your body too..
Personal growth :
as people develop there own sense of identity and confidence they make there style more sharp and unique as there personality . As which they became the roll model and people start following there style .
Culture and social influence :
As you get older you start being more cultural which will affect ur fashion style too and the second thing which influence ur style is your social circle as u have heard the quote u will bw like the people you spend the most time with the one with whom u spend the most time can be your friends and social media which can influence your style by the time you.
Practicality :
older adult may prioritise comfort and practicality over trend or high maintenance fashion like a kid usually go with the trend and as he grow up he became a adult and adult mindsets are different so they start to change there style as per requirement and start thinking practically . The more adult mature he focus on the high maintenance fashion
Common changes in fashion as people get older :
Shift from bold and trendy to classic and timeless pieces .
Increases focus on comfort and quality
Grater emphasis on dressing for themselves, rather impressing others
Experimentation with new styles and silhouettes to suit changing body shapes
Incorporation of more luxurious and high quality fabrics and materials
These changes can be varying around individuals as there condition in life the profession and some other reasons too.. ultimately fashion evolution is a personal journey , and individual style may change at different paces and in various ways as people age