Articles and News

New York, NY--A new Saks Global survey shows luxury consumers are increasingly optimistic about the economy and their personal finances, with spending intentions rising compared to earlier this year.

[Image via iStockphoto.com]

According to the Saks Global Luxury Pulse, fielded from July 17 to 21, 32% of luxury consumers reported feeling optimistic about the economy, a four-point increase from April.

Another 39% described themselves as calm, and 45% said they feel prepared, both improvements from the prior survey. While sentiment remains below 2024 levels, Saks noted gains across all income groups.

On personal finances, 59% reported optimism, an eight-point increase from April. Higher-income consumers — those earning $200,000 or more — showed sharper gains. Respondents cited ongoing political and social issues, global conflicts, and concerns about recession as their top worries.

Spending intent also rose. The report found 56% of luxury consumers expect to spend the same or more on luxury in the next three months, up nine points from April. Travel spending plans also improved, with 68% saying they will spend the same or more compared with the prior quarter.

The survey showed many plan to treat themselves or refresh wardrobes as reasons to increase spending, while sales and promotions remain key incentives for those spending less.

Learn more in this news release by Saks Global.