Saks Luxury Pulse Finds Consumers are Spending on a Luxury Lifestyle

NEW YORK–(BUSINESS WIRE)–Saks, the premier luxurious ecommerce platform, has unveiled its newest Saks Luxury Pulse survey of luxurious consumers with client insights on spending habits and life-style preferences. The survey discovered that greater earnings shoppers are persevering with to spend on luxurious, together with treating themselves with vogue and holidays. Additionally, extra shoppers are actually prioritizing well being and wellness and are complementing their life with luxurious self care, health and residential merchandise.

“We continue to pay close attention to the evolving macro environment and the insights from the Saks Luxury Pulse reinforce our perspective on the luxury consumer,” stated Marc Metrick, Chief Executive Officer, Saks. “The luxury customer remains highly engaged with fashion, and we are confident that our customers will continue to look to Saks when they want to elevate and refresh their everyday style.”

Saks Chief Merchandising Officer Tracy Margolies added, “Saks is committed to providing an assortment that complements the luxury customer’s lifestyle. These valuable insights are one of the ways we listen to our customers to inform our assortment. While fashion remains at Saks’ core, we’ve found that our customer is embracing luxury across all aspects of their daily lives.”

Highlights from the Saks Luxury Pulse survey embrace:

  • More greater earnings and youthful shoppers are spending on luxurious.

    • 76% of respondents with an earnings of $200k or extra stated they plan to buy the identical or much more luxurious gadgets within the subsequent three months than they did prior to now three months.
    • Significantly extra Generation X (21%) and millennial and Generation Z (22%) respondents are planning to buy extra luxurious gadgets within the subsequent three months in comparison with respondents of the infant boomer and silent generations (16%).
    • When requested the place they might spend an additional $500, respondents with an earnings of $200k or extra would spend first on trip and leisure journey (38%), adopted by sneakers, equipment and purses (29%).
  • Consumers are buying on-line and splurging on themselves.

    • 85% of respondents are planning to buy the identical quantity or extra on-line within the subsequent three months in comparison with the final three months.
    • When splurging, 80% of respondents say it’s seemingly for themselves or a present for themselves, throughout generations.
  • Consumers have an rising curiosity in luxurious wellness and residential merchandise.

    • Roughly two in 5 respondents (41%) are prioritizing wellness, particularly relaxation & rest, vitamin and common self care, extra now than they have been previous to the pandemic.
    • Of those that are prioritizing health actions, 62% are interested by looking for exercise put on from luxurious retailers.
    • Over the final three months, 54% of respondents have been updating, renovating or redecorating their dwelling or adorning their new dwelling.
    • Respondents are seemingly to buy mattress & bathtub merchandise (51%), dwelling decor (50%) and candles & diffusers (42%) within the subsequent three months.

Check out Saks’ curated choice of Home and Wellness choices by way of the homepage, and uncover editorial guides and tips associated to self care, activewear and extra by way of The Edit, the Saks editorial hub that gives an inside have a look at the newest vogue and magnificence inspiration.

About the Saks Luxury Pulse

The Saks Luxury Pulse is a periodic on-line survey of luxurious shoppers’ attitudes in the direction of buying, spending and vogue developments. It relies on responses from 2,137 U.S.-based respondents over age 18 and was fielded between May 24-27, 2022.

About Saks

Saks is the premier digital platform for luxurious vogue in North America. Driven by a mission to assist clients categorical themselves by means of related and provoking model, we function a vacation spot to discover and uncover the newest from established and rising designers. Our expertly curated assortment options sought-after names in ladies’s, males’s and children vogue, in addition to magnificence, dwelling and life-style merchandise. Through the Saks web site and app, we offer entry to skilled stylists, inspiring editorial content material and interactive occasions. Our differentiated method seamlessly combines elevated on-line experiences with in-person providers by means of an unique partnership with the Saks Fifth Avenue shops.

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