Customers sustain interest in luxury according to Saks Luxury Pulse

Despite the increasing uncertainty surrounding the macroeconomic environment, it appears that consumer interest in luxury has not been depleted.

According to a new survey conducted by Saks, entitled ‘Saks Luxury Pulse’, luxury consumers were even found to be planning to continue their spending over the next three months, with the majority of respondents (62 percent) stating they were looking to spend the same or more on luxury.

In a release, Marc Metrick, CEO of Saks, said: “Our strategy is centred on serving consumers who are interested in luxury and we continue to see opportunities that come from offering the best of Saks to these shoppers.

“Even as consumer spending shifts with the evolving economic environment, we’re pleased to see a sustained interest in luxury.

“As the largest luxury ecommerce platform in the US, it’s our mission to establish strong relationships with the full spectrum of luxury customers and maintain them for years to come.”

The survey further revealed that consumers in this segment were particularly focused on their travel plans, with Gen Z, Millennials and respondents with an income of over 200,000 dollars planning to prioritise this area more than others.

In terms of retail services, 64 percent of respondents said they most desired free basic alterations, while 55 percent said they were looking for in-store returns, two features Saks noted that it already offered.