Luxury consumer's feeling bounces: Saks Luxury Pulse Survey

Luxury buyers are recovering confidence in both the economy and their personal finances, according to the latest luxury pulse survey Saks.

The quarterly survey found that consumer optimism has improved abruptly since April, although the feeling has not yet returned to 2024 levels as uncertainty about the persistent socio -economic climate.

In general, 32% of luxury consumers indicated feeling optimistic about the economy, 4% more compared to the April survey. Similarly, 39% of respondents indicated feeling calm about the economy, an increase of 7%, while 45% of luxury consumers said they feel prepared on the economic environment.

The feeling was especially strong among the survey of higher income, with 53% of those with an income of $ 200k or more who indicate feel prepared, which represents a 12% increase compared to April. Trust in personal finance also increased, with 59% of respondents who express optimism, an 8% increase from April.

This increase in feeling is translating into a greater willingness to buy. More than half (56%) of luxury consumers said they plan to spend the same or more in luxury in the next three months compared to the previous three months, which is a 9% increase compared to April.

Of those who plan to spend more, respondents cited the main reason as a desire to treat themselves, followed by the feeling that their finances are in a good place and a desire to update their wardrobe.

“When entering the autumn season, we are encouraged by the indication that the luxury consumer's mentality is improving, and his appetite to spend luxury is growing,” said Emily Essner, president and commercial director of Saks Global.

“This improvement in the intention of feeling and expenditure validates our long -time belief that luxury consumers stores as they begin to feel better with the economy. We believe that these positive trends will continue and hope to deliver our vision of your art this season by offering inspiring fall fashion to customers through shopping experiences that are compatible with them.”