Luxury consumers are gearing up for a festive shopping season, with the expectation to spend the same amount or even more than last year, according to the recent Saks Luxury Pulse survey. The survey, conducted by renowned luxury retailer Saks Fifth Avenue, found that 65% of participants are planning to start their holiday shopping before Thanksgiving. Additionally, 76% of respondents anticipate spending the same or higher amounts compared to the previous year, though slightly lower than the 79% seen last year.
A significant increase was noted in the percentage of consumers planning to shop for new holiday attire, with 61% of respondents expressing this intention. This figure is notable, as it rose from 45% last year, highlighting the strong desire among luxury consumers to indulge in fashionable garments for the holiday season. In terms of gifting preferences, 69% of respondents showed interest in giving gift cards, while 64% mentioned clothes and 51% favored hobbies as their preferred choices for presents.
When it comes to self-gifting, survey participants displayed a particular interest in shoes (39%), handbags (28%), and beauty and fragrance items (27%). On the receiving end, luxury consumers hope to receive clothes (48%), beauty and fragrance items (33%), and wine and spirits (33%) as gifts.
Regarding shopping preferences, the survey revealed that 43% of respondents plan to primarily shop online, with some also opting for in-store shopping during the holiday season. This percentage represents a slight decline compared to the 50% reported last year. Respondents also emphasized the importance of delivery and pickup options, citing free shipping and returns as their top priority.
Marc Metrick, the CEO of Saks, expressed his delight with consumers’ continued enthusiasm for holiday shopping despite the ever-changing economic climate. He acknowledged that as customers go out, travel, and celebrate the holiday season, they will take advantage of opportunities for self-purchasing in addition to luxury gifting. Metrick assured customers that Saks Fifth Avenue is fully prepared to cater to their needs, providing the best in fashion and lifestyle merchandise. With the holiday season approaching, luxury consumers can depend on Saks Fifth Avenue to deliver an exceptional shopping experience.
**Useful links:**
– Saks Fifth Avenue
– Saks Holiday Gift Shop
