Connect with us

Headlines

The Urge to Splurge Stays Strong

Saks survey finds clothing and shoe buys for travel a high priority.

mm

Published

on

Consumers plan to continue spending on luxury in the next three months, the latest Saks Luxury Pulse has found. Specifically, 62 percent of the respondents to the retailer’s most recent survey say they expect to spend the same or more on luxury compared to the last three months.

Respondents are also prioritizing their spending on travel, with 72 percent saying they have already booked or are planning to book a trip. Of those, the top luxury items they are buying in preparation for their trips are clothing (60 percent) and shoes (36 percent).

“Even as consumer spending shifts with the evolving economic environment, we’re pleased to see a sustained interest in luxury,” Saks CEO Marc Metrick said in a news release.

Those planning to spend more on luxury cited that their finances are in a good place and that they have a desire to update their wardrobes.

Women respondents said they are embracing spring fashion trends, while men are most interested sophisticated styles. When seeking fashion inspiration, many are turning to social media (primarily Instagram).

The Saks Luxury Pulse is a periodic online survey of luxury consumers’ attitudes towards shopping, spending and fashion trends. The latest one is based on responses from 2832 U.S.-based respondents over age 18 and was fielded between Jan. 13-17.

Advertisement

Click here for more survey results.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Wilkerson: “They Feel Like Family”

Newton’s Jewelers in Fort Smith, Ark., was a true institution. But after being at the helm for most of his life, owner (and descendent of the original founder) Kelly Newton decided it was time to retire. He chose Wilkerson to handle the sale. “I’ve known the owners of Wilkerson for a long, long time. I felt at home with them,” he says. The final retirement sale was just a “blast” and the Wilkerson sales team made it so very simple and straightforward, says Newton. Would he recommend Wilkerson to others? Absolutely. “They’ve done incredible work,” says Newton. “They feel like family.”

Promoted Headlines

Most Popular