There's a current day Silicon Valley version of ladies who lunch, for sure. Usually it's SAHMs who are pretty well off and have household help, so once they get the kids off to school they go to exercise class, run errands and go shopping, and have lunch with friends. Their look tends to include a lot of athleisure wear worn with very done hair and big statement bags. Since I work at home and often run errands during the day, or go out to lunch to get out of the house and see people, I end up cohabitating with this group a lot. There are lovely people in this crowd and not so lovely, just like any other group, but it definitely is a trend around here.
The gal who writes the Recovering Shopaholic blog had a post recently comparing her clothes now with a year or two ago, and she called her older outfits very 'church going', which I thought was a good descriptor. In my area her outfits would be thought of as very outdated and old, but in other areas they'd be very mainstream.
There are a lot of social signifiers in clothes and outfits, to put it mildly. Sometimes a description can be factual but also used to connotate approval or disapproval of a certain group.