NEW YORK--(BUSINESS WIRE)--Saks Global, the largest multi-brand luxury retailer in the world, has unveiled its Saks Global Luxury Pulse survey with insights into consumer sentiment towards the economic environment and preferences for personalized shopping experiences. Overall, the survey revealed that the luxury consumer is feeling less optimistic about the economy, however, they remain engaged in luxury shopping. The majority of respondents (58%) indicated plans to continue spending the same or more on luxury, and 94% said they are likely to engage in activities that will help to better personalize their shopping experience.

“At Saks Global, we’re working to reinvent luxury shopping by delivering luxury fashion and experiences perfectly curated for each customer. Our deep understanding of the luxury consumer–bolstered by this survey–strengthens our ability to do just that,” said Emily Essner, President & Chief Commercial Officer, Saks Global. “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.”

Luxury Consumer Priorities & Spending

Fielded from January 16-22, 2025, the Saks Global Luxury Pulse found that luxury consumers’ confidence in the economy is trending downward, while the majority remain optimistic about their personal finances.

• 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 7 percentage points compared to the prior survey fielded in October 2024.
• 43% of luxury consumers are feeling optimistic about the overall economy, a decrease of 5 percentage points compared to the same time last year and to the prior survey.
• Despite declining optimism about the economy, the majority of luxury consumers (65%) remain optimistic about their personal finances. However, this is a 5 percentage point decrease compared to the same time last year and to the prior survey.
• Respondents indicated that their decreasing confidence is primarily due to global conflicts and general instability, which is more pronounced among those with an income of $200k or more.
• Feelings about the economy have influenced luxury consumers’ priorities for 2025, with financial security being one of their top three focuses for the year. Their other two priorities are their physical health and embracing travel or new experiences.

Despite declining economic optimism, 58% of luxury consumers said they plan to spend the same or more on luxury in the next three months compared to the previous three months.

• This is a 7 percentage point decline compared to the prior survey fielded in October 2024, which is in line with expectations, given consumers are coming off of the holiday spending season. The decline is attributable to the consumer segment with less than $200k in income.
• 63% of those with an income of $200k or more said they plan to continue spending the same or more on luxury, which is a 4 percentage point increase compared to the same time last year.
• Of those with an income of less than $200k, 52% are planning to spend the same or more on luxury, a decrease of 5 percentage points compared to the same time last year.

Luxury Consumer Shopping Preferences

Essner continued, “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.”

Luxury consumers increasingly value personalization, engaging more with tailored features and showing greater willingness to adopt them compared to the same time last year.

• When asked where they prefer to engage with personalized content such as product recommendations, the majority of respondents said online or on an app, followed by in email marketing.
• At a slightly higher rate than the same time last year, the luxury consumer continues to find the most value in personalized content and recommendations that provide exclusive access to limited stock products, rewards and offers, as well as reminders of these offers.
• The majority of luxury consumers (94%) are likely to engage in activities that will further enhance their shopping experience through personalization, with the top activities being creating an account, generating a wishlist, answering questions about their shopping preferences and providing feedback on features.

66% of luxury consumers said they are using AI features when shopping for fashion online, an increase of 2 percentage points compared to the same time last year.

• Respondents shared that they most commonly use AI for online shopping through providing body measurements to receive size recommendations or to visualize a product on various body types.
• However, respondents indicated that they are increasingly unlikely to upload pictures of themselves for virtual try-on.

About the Saks Global Luxury Pulse

The Saks Global Luxury Pulse is a quarterly online survey of luxury consumers’ attitudes towards shopping, spending and the economy. It is based on responses from 1,688 U.S.-based luxury consumers over age 18 and was fielded from January 16-22, 2025. Formerly known as the Saks Luxury Pulse, following the completion of Saks Global’s acquisition of Neiman Marcus and Bergdorf Goodman, the survey’s scope broadened and it has been rebranded as the Saks Global Luxury Pulse.

About Saks Global

Saks Global is a combination of world-class luxury retailers, including Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks OFF 5TH, as well as a portfolio of prime U.S. real estate holdings and investments. Saks Global is deeply committed to helping luxury consumers discover the most sought-after established and emerging brands from around the world. Powered by data-driven technology and centered on the customer, Saks Global is on a mission to redefine the luxury shopping experience through highly personalized service, with greater opportunities for product discovery across all channels.