Saks survey reveals that consumers are spending more and more on luxury

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The first luxury e-commerce platform, Saks, has unveiled the findings of its Saks Luxury Pulse survey, addressed to luxury consumers, and questioning their lifestyle and spending. Zoom on the results of this latest survey.

 

From a broader perspective, the Saks survey found that high-income consumers continue to spend on luxury goods, particularly in the fashion and vacation sectors.

 

We continue to pay close attention to the changing macroeconomic environment and the information from the Saks Luxury Pulse reinforces our view of the luxury consumer. The luxury customer remains highly engaged in fashion, and we are confident that our customers will continue to turn to Saks when they want to elevate and refresh their everyday style,” comments Marc Metrick, CEO of Saks.

 

The survey, which polled 2,137 Americans, those with an income of $200,000 or more answered the question “Where would they spend an extra $500?” that they would spend the most on vacations and travel (38%), followed by shoes, accessories and finally, handbags (29%).

 

In addition, 85% plan to spend the same or more in luxury online in the next three months compared to the last three months.

 

What’s different from previous surveys?

 

However, in a slight difference from previous surveys, it was found that more and more shoppers are putting a premium on wellness and health. Luxury cosmetics, personal care, fitness and home are the top new consumer spending areas highlighted by Saks.

 

Saks Chief Merchandising Officer Tracy Margolies said, “Saks is committed to providing an assortment that complements the lifestyle of the luxury shopper. This valuable information is one of the ways we listen to our customers to inform our assortment. While fashion remains at the heart of Saks, we have found that our customers are embracing luxury in all aspects of their daily lives.”

 

Nearly half of those surveyed (41%) place a higher priority on wellness, rest, relaxation, nutrition and personal care than they did prior to the Covid-19 pandemic. In addition, among those who place a high priority on fitness, 62% want to purchase workout clothes from luxury retailers.

 

Spending on feeling good in their homes has also increased. With the many months spent confined to the home and the advent of telecommuting, individuals’ interest in decorating or renovating their homes has directly impacted and multiplied.

 

In the past three months, 54% of respondents have updated, renovated or redecorated their home or decorated their new home. 51% are also likely to purchase bedding and bath products, 50% home decor and 42% candles or diffusers in the next three months.

 

 

Read also > SAKS FIFTH AVENUE CELEBRATES THE ARRIVAL OF SUMMER WITH A SERIES OF EXCLUSIVE DINNERS IN THE HAMPTONS

 

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The first luxury e-commerce platform, Saks, has unveiled the findings of its Saks Luxury Pulse survey, addressed to luxury consumers, and questioning their lifestyle and spending. Zoom on the results of this latest survey.

 

From a broader perspective, the Saks survey found that high-income consumers continue to spend on luxury goods, particularly in the fashion and vacation sectors.

 

We continue to pay close attention to the changing macroeconomic environment and the information from the Saks Luxury Pulse reinforces our view of the luxury consumer. The luxury customer remains highly engaged in fashion, and we are confident that our customers will continue to turn to Saks when they want to elevate and refresh their everyday style,” comments Marc Metrick, CEO of Saks.

 

The survey, which polled 2,137 Americans, those with an income of $200,000 or more answered the question “Where would they spend an extra $500?” that they would spend the most on vacations and travel (38%), followed by shoes, accessories and finally, handbags (29%).

 

 

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The first luxury e-commerce platform, Saks, has unveiled the findings of its Saks Luxury Pulse survey, addressed to luxury consumers, and questioning their lifestyle and spending. Zoom on the results of this latest survey.

 

From a broader perspective, the Saks survey found that high-income consumers continue to spend on luxury goods, particularly in the fashion and vacation sectors.

 

We continue to pay close attention to the changing macroeconomic environment and the information from the Saks Luxury Pulse reinforces our view of the luxury consumer. The luxury customer remains highly engaged in fashion, and we are confident that our customers will continue to turn to Saks when they want to elevate and refresh their everyday style,” comments Marc Metrick, CEO of Saks.

 

The survey, which polled 2,137 Americans, those with an income of $200,000 or more answered the question “Where would they spend an extra $500?” that they would spend the most on vacations and travel (38%), followed by shoes, accessories and finally, handbags (29%).

 

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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