Survey finds growing economic optimism translating to luxury spending intent, with 56% of luxury consumers planning to spend the same or more on luxury
NEW YORK, Sept. 9, 2025 /PRNewswire/ — Saks Global, the largest multi-brand luxury retailer in the world, unveiled new insights into luxury consumer sentiment and spending intent from its latest Saks Global Luxury Pulse survey of luxury shoppers. According to the latest survey fielded July 17-21, 2025, luxury consumer sentiment around both the economy and personal finances is trending upward, with significant increases across all income groups compared to the prior survey fielded in April 2025. However, sentiment has not yet returned to 2024 levels as uncertainty around the socioeconomic climate lingers.
“As we enter the fall season, we are encouraged by the indication that the luxury consumer’s mindset is improving, and their appetite to spend on luxury is growing,” said Emily Essner, President & Chief Commercial Officer, Saks Global. “This improvement in both sentiment and spending intent validates our long-held belief that the luxury consumer shops as they begin to feel better about the economy. We believe these positive trends will continue and look forward to delivering on our vision for The Art of You this season by offering inspiring fall fashion to customers through shopping experiences that are uniquely curated to them.”
Luxury Consumer Economic Sentiment: The Saks Global Luxury Pulse indicated an improvement in economic sentiment among luxury consumers compared to the April survey, largely due to easing concerns about the macroeconomic environment.
- 32% of luxury consumers indicated feeling optimistic about the economy, an increase of 4 percentage points compared to the April survey. While still 13 percentage points lower than the same time last year, the quarter-to-quarter increase marks a positive turning point for this metric. Similarly, 39% of respondents indicated feeling calm about the economy, which is a 7 percentage point increase compared to the April survey, but an 11 percentage point decrease compared to the same time last year.
- 45% of luxury consumers said they are feeling prepared about the economic environment, which is an increase of 9 percentage points compared to the April survey, though an 8 percentage point decrease compared to the same time last year. As expected, core luxury consumers are feeling significantly more positive, with 53% of those with an income of $200K or more indicating feeling prepared–representing a 12 percentage point increase compared to the April survey and only a slight decrease of 2 percentage points compared to the same time last year.
- When discussing their personal finances, 59% of luxury consumers remain optimistic, representing an 8 percentage point increase compared to the April survey, but a 9 percentage point decrease compared to the same time last year. Respondents with an income of $200K or more showed a sharper increase in optimism, up 11 percentage points compared to the April survey.
- The general social and political climate remains the luxury consumer’s top concern, followed by ongoing global conflicts and an impending recession or economic downturn.
Luxury Consumer Spending Intent: As a result of the positive trend in economic sentiment, the luxury consumer’s plans to spend on luxury have risen sharply compared to the April survey, approaching levels seen at the same time last year.
- 56% 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, which is a 9 percentage point increase compared to the April survey and nearly flat compared to the same time last year. The increase is evident across all income groups, but is especially driven by core luxury consumers, whose intent now exceeds both the April survey and the same time last year.
- Of those who plan to spend more, respondents cited the top reason being a desire to treat themselves, followed by the feeling that their finances are in a good place and a desire to update their wardrobe. Given the improvement in the luxury consumer’s overall sentiment versus the April survey, their shopping intention has now increased accordingly, after holding back in April due to increased macroeconomic uncertainty at that time.
- Among respondents who plan to spend the same or less, their top incentive to spend more is an enticing sale or promotional event, followed by an increase in income and an unexpected special occasion. Compared to the April survey, there was a significant decline among those who said that an improvement in the overall economy would incent them to spend more, which is in line with their improving sentiment about the overall economy.
- 68% of luxury consumers plan to spend the same or more on travel in the next three months compared to the previous three months, which is an increase of 3 percentage points compared to the April survey.
Essner continued, “With access to 30 million luxury customers across the U.S., Saks Global has deep intelligence on the driving forces behind luxury shoppers’ purchasing decisions. The Saks Global Luxury Pulse reinforces our comprehensive understanding of these customers and their evolving sentiments on a macro level. With clear insights into their sentiment for the season ahead, we are well positioned to meet customers with the most relevant assortment and experiences to help them express themselves.”
About 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 995 U.S.-based luxury consumers over age 18 and was fielded from July 17-21, 2025.
About Saks Global
Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow. Its retail portfolio includes 70 full-line luxury locations, additional off-price locations and five distinct e-commerce experiences. With talented colleagues focused on delivering on our strategic vision, The Art of You, Saks Global is redefining luxury shopping by offering each customer a personalized experience that is unmistakably their own. By leveraging the most comprehensive luxury customer data platform in North America, cutting-edge technology, and strong partnerships with the world’s most esteemed brands, Saks Global is shaping the future of luxury retail.
Saks Global Properties & Investments includes Saks Fifth Avenue and Neiman Marcus flagship properties and represents nearly 13 million square feet of prime U.S. real estate holdings and investments in luxury markets.
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SOURCE Saks Global
