Luxury consumer: Inside in the USA, the current Saks Global Luxury Pulse survey shows. The intention to buy for luxury goods has therefore decreased noticeably. The quarterly report analyzes the mood under luxury customers: inside with regard to expenditure behavior and economic situation.
According to the survey, optimism continues to take a luxury consumer: in view of the economic uncertainties and current market volatility. At the same time, the participants emphasize that a recovery of the overall economic situation and positive developments in personal investments could potentially lead to a higher issue for luxury.
Macroeconomic uncertainty is burdened
As the main reasons for the reserved atmosphere, the respondents cited the tense social and political climate, the concern about an impending recession, uncertainties in personal financial security, the volatility of the stock market and global conflicts. Newly introduced tariffs landed in sixth place in the survey, which was carried out between April 24 and 28 April 28th.
Despite the reluctance, experiences and inspiring fashion remain important for the target group. According to SAKS globally, make sure that the quality of your luxury editions is increasingly on the inside – the interest is increasingly aimed at experiences and creative, individual fashion.
A decline in the event of intent to buy particularly clearly with top earners: inside
The current survey also shows that only 47 percent of the respondents plan to spend the same for luxury goods over the next three months – the lowest value since the start of the survey in April 2023 and a decline by eleven percentage points compared to the previous survey.
The decline in households with an annual income of $ 200,000 (around 173,000 euros) or more is particularly clear. Only 48 percent of this group continues to show consumer – a minus of 15 percentage points compared to the preliminary survey and the comparison period of the previous year.
Nevertheless, there is hope, because in addition to a more stable economy, consumers: also tempting sale actions, increased income or special occasions as possible impulses to increase their expenses for luxury goods.
Emily Essner, President and Chief Commercial Officer from Saks Global, emphasizes: “As a leading expert: Inside for the luxury segment, we see it as our task to make the value of our offers and the quality of our range visible in uncertain times.” It also underlines the resilience of the target group: “Luxury customer: on the inside is typically the last to retire from the market, and the first who return. We see it an opportunity to intensify our strategic measures-especially through hyper-personalized shopping experiences.”
This article was used with digital tools translated.
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