Holiday Cheer and Increased Advance Buying Among Luxury Consumers: Saks Luxury Pulse Survey

Luxury consumers are preparing to spend the same or more on holiday shopping compared to last holiday season, according to the latest Saks Luxury Pulse survey.

Many luxury buyers are starting early, with 70% planning to start shopping before Thanksgiving. The findings suggest a strong preference for online shopping this year, with 64% of luxury consumers, particularly Millennials (70%), opting for the convenience of digital shopping over in-store visits. However, categories like home décor and fine jewelry still drive many consumers to shop in person.

Shoppers are focused on both gift-giving and self-gifting this season: 85% intend to shop for their loved ones and 61% also plan to treat themselves to luxury items, primarily in clothing, shoes and beauty.

The survey also highlights popular gift categories: Women prefer beauty products and hobby-related gifts, while men gravitate toward electronics, beverages and footwear. Fine jewelry tops women's wish lists, while men prefer clothing, and all respondents rate experiences as a desirable gift option.

Social gatherings are also increasing, with 77% of luxury consumers planning to attend holiday parties. In response, dressing for the holidays is back in style: 62% plan to upgrade their Christmas wardrobe and nearly a quarter aim to go all out compared to last season.

Finally, the survey underlines an optimistic outlook on luxury spending, as 65% of luxury consumers plan to maintain or increase their luxury purchases over the next three months, an eight-point increase from last year.

“We are pleased to see increased excitement around this year's holiday shopping season and look forward to meeting customers with equally exciting shopping experiences at Saks Fifth Avenue,” said Emily Essner, chief marketing officer at Saks.

“The holidays are a special time for the Saks Fifth Avenue brand, and in its 100th anniversary, we are energized by the opportunity to further strengthen our customer relationships, offer an inspiring array of luxury, and deliver the level of personalized service the Saks Fifth Avenue brand offers. that Saks is known for. .”