“Discover the Ultimate Luxury Shopping Experience at Saks Fifth Avenue – Indulge in the Latest Designer Collections, Rare Timepieces, Fine Jewelry, and More!”
(MC MosnarCommunications.com Luxury Press Release) – Saks Fifth Avenue, the iconic luxury department store, has conducted a survey that reveals that luxury consumers have a strong desire to spend on luxury items.
The survey found that 78% of luxury consumers plan to spend the same or more on luxury goods in the upcoming year, with many citing the desire for high-quality, long-lasting items as the main reason for their continued investment in luxury.
The survey also found that the most popular luxury items that consumers plan to purchase include designer clothing, luxury watches, and fine jewelry. In addition, the survey revealed that the demand for luxury beauty products, home decor items, and gourmet food and beverage items is on the rise.
“Saks Fifth Avenue has always been committed to providing our customers with the highest-quality luxury items,” said the spokesperson for Saks Fifth Avenue. “We are thrilled to see that luxury consumers continue to have a strong appetite for luxury items and are excited to offer them the latest and greatest in luxury fashion, beauty, and home decor.”
As luxury consumers continue to invest in high-quality, long-lasting luxury items, Saks Fifth Avenue remains the go-to destination for the latest designer collections, rare timepieces, fine jewelry, exclusive beauty products, and high-quality home decor items.
The Saks Luxury Pulse survey of luxury shoppers provides consumer insights on spending and travel plans, as well as the latest luxury interests–from fashion trends and social media inspiration, to what they are buying for upcoming occasions.
Luxury consumers have an appetite to spend on luxury items in the next three months. Of those who plan to spend more, they cited that their finances are in a good place and they have the desire to update their wardrobes. These consumers are also interested in spending on luxury activities, such as travel, and plan to complement their plans with new clothing.
- The majority of respondents (62%) plan to spend the same or more on luxury in the next three months compared to the last three months.
- Respondents with an income of $200K+ plan to prioritize spending first on travel, events, and activities, followed by clothing.
- Generation Z and Millennial respondents plan to prioritize spending first on travel, events, and activities, even more than other generations.
Respondents are embracing travel, events, and experiences, and they are shopping for luxury to prepare for these outings.
- 72% have already booked a future trip or are starting to plan one. Of those, the top luxury items they are buying in preparation for their trip are clothing (60%) and shoes (36%).
- The top travel destinations are warm weather and beach vacations (32%) and trips to a big city (18%).
- In addition to vacations, respondents plan to buy luxury items for nights out, special events, and, going to the office. For these events, they are also planning to buy clothing and shoes.
Women respondents shared that they are embracing spring fashion trends, while men are embracing sophisticated dressing. When seeking fashion inspiration, many are turning to social media for reviews and inspiration.
- Women respondents plan to embrace spring fashion, such as colorful styles and statement tops in the next three months. As for men, they plan to embrace clean sneakers, loafers, and tailored suits.
- Consumers are using social media – primarily Instagram (55%) – for inspiration when shopping for luxury.
- Respondents shared that they are frequently using social media to read reviews (45%) and to get inspiration for outfits (33%).
When asked about what services they want the most when shopping, free basic alterations (64%) and returns in-store (55%) were among the top three, which Saks is able to provide through our exclusive partnership with the Saks Fifth Avenue Stores, unlike other luxury digital pure-plays.
Visit Saks Fifth Avenue today to explore this exquisite collection of luxury items and experience the ultimate in luxury shopping.
Some of the most popular luxury items that luxury consumers purchase at Saks include:
- Designer Clothing and Accessories: Saks Fifth Avenue offers a wide selection of designer clothing and accessories from top luxury brands, including Gucci, Prada, Louis Vuitton, and Chanel. Luxury consumers often shop at Saks for the latest designer collections and limited-edition pieces.
- Luxury Watches: Saks Fifth Avenue offers a range of luxury watches from top brands, including Rolex, Omega, and Tag Heuer. Luxury consumers often shop at Saks for their exclusive collection of limited-edition and rare timepieces.
- Fine Jewelry: Saks Fifth Avenue has an extensive collection of fine jewelry from top brands, including Bulgari, Cartier, and Tiffany & Co. Luxury consumers often shop at Saks for their unique and exquisite collection of diamond and precious gemstone jewelry.
- Beauty Products: Saks Fifth Avenue offers a wide range of luxury beauty products from top brands, including La Mer, Tom Ford, and Yves Saint Laurent. Luxury consumers often shop at Saks for their exclusive and hard-to-find beauty products.
- Home Decor: Saks Fifth Avenue offers a range of luxury home decor items from top brands, including Frette, L’Objet, and Ralph Lauren Home. Luxury consumers often shop at Saks for their unique and high-quality home decor items that add a touch of luxury to their homes.
Overall, Saks Fifth Avenue is a go-to destination for luxury consumers who are looking for the latest designer collections, rare timepieces, fine jewelry, exclusive beauty products, and high-quality home decor items.