Luxury Consumers Ready To Spend Again
- by Sarah Mahoney @mahoney_sarah, September 19, 2023
There’s good news for retailers in the latest Saks Luxury Pulse, with the quarterly research revealing a decided shift in the financial confidence of affluent consumers.
Saks reports that 58% of luxury consumers plan to spend the same or more on luxury products in the coming months, up from 53% …
In our prior surveys of high net worth consumers, we often found that combining "same or more" responses could be a little misleading. The percentage who plan to spend "more" is very importamnt.
Also, consumers with similar levels of income can have quite different outlooks depending on their net worth, which is a more stable indicator of wealth.