Around 62 per cent of US-based consumers surveyed in January 2023 plan to spend the same or more on luxury compared to the last three months. Respondents with an income of over $200K plan to prioritise spending on clothing after travel, events, and activities. Sixty per cent said they were buying clothing and 36 per cent would spend on shoes for their upcoming trips.
Women respondents wanted to embrace spring fashion, such as colourful styles and statement tops in the next three months. As for men, they plan to go for clean sneakers, loafers, and tailored suits, according to the recent Saks Luxury Pulse survey by American luxury fashion digital platform Saks.
When seeking fashion inspiration, many are turning to social media with Instagram emerging as the most favourite platform for 55 per cent of those surveyed. While 45 per cent of respondents shared that they are frequently using social media to read reviews, 33 per cent use the medium to get inspiration for outfits.
When asked about what services they want the most when shopping, 64 per cent chose free basic alterations and 55 per cent preferred returns in store.
The Saks Luxury Pulse is a periodic online survey of luxury consumers’ attitudes towards shopping, spending, and fashion trends. It is based on responses from 2,832 US-based respondents over age 18 and was fielded between January 13-17, 2023.