Survey: Luxury shoppers to keep spending; crave personalization
Despite economic uncertainty, a majority of luxury shoppers plan to spend the same or more this year.
The latest Luxury Pulse survey from Saks Global reveals that nearly six-in-10 (58%) respondents will maintain or increase luxury spending in 2025, and nearly two-thirds (63%) of those with an income of $200k or more said they plan to continue spending the same or more on luxury. This is a four percentage point increase compared to the same time last year. Of those with an income of less than $200k, just over half (52%) are planning to spend the same or more on luxury, a decrease of five percentage points compared to the same time last year.
Almost all (94%) of those surveyed said they are likely to engage in activities that will help to better personalize their shopping experience with the top activities being creating an account, generating a wishlist, answering questions about their shopping preferences, and providing feedback on features. Two-thirds (66%) of luxury consumers said they are using AI features when shopping for fashion online, an increase of two percentage points compared to the same time last year.
Nearly half (45%) of luxury consumers reported feeling calm about the economy, a decrease of 12 percentage points compared to the same time last year, and a decrease of seven percentage points compared to the prior survey fielded in October 2024. Forty-three percent of luxury consumers are feeling optimistic about the overall economy, a decrease of five percentage points compared to the same time last year and to the prior survey.
The majority of luxury consumers (65%) remain optimistic about their personal finances. However, this is a five percentage point decrease compared to the same time last year and to the prior survey.
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“In the Saks Global Luxury Pulse, we’re pleased to see that the luxury consumer remains engaged in the luxury shopping experience, despite a dip in their optimism about the economy,” said Emily Essner, president & chief commercial officer at Saks Global. “A key insight from the Saks Global Luxury Pulse is the luxury consumer’s increasing willingness to embrace personalization and AI, recognizing the potential to further enhance their shopping experience. The more receptive customers are to these innovations, the better we will be able to serve them across Saks Global’s retail brands.”
Saks Global’s survey is based on responses from 1,688 U.S.-based luxury consumers over age 18 and was fielded from Jan. 16-22, 2025.
