Luxury consumers show early signs of increased spending, according to Saks Luxury Pulse survey. Of the respondents, 58% plan to spend the same or more on luxury in the next three months, up from 53% in the prior survey. While 68% are optimistic about their personal financial situation, 55% express concerns about the overall economy. Higher income respondents, earning $200K or more, are more optimistic about the economy.
About three-quarters (74%) of respondents plan to or have already booked a trip, and 72% of them plan to buy luxury items for their trips. Saks aims to deepen its understanding of customer sentiments toward shopping, spending, and fashion, positioning itself as an authority on luxury consumers.