High-end shoppers may be feeling jittery about the economy, but they’re not putting their wallets away just yet
Saks Global’s latest Luxury Pulse survey reveals that while confidence in the economy is slipping, most luxury consumers plan to maintain or even increase their spending—and they want more personalised shopping experiences powered by AI.
The survey, conducted in January, found that 58% of respondents intend to keep their luxury budgets steady or expand them, even as only 43% remain optimistic about the broader economy. Those with household incomes of $200K or more are more likely to keep spending, while lower-income luxury shoppers are dialing back.
Emily Essner, president & chief commercial officer, Saks Global, said: “A key insight from the Saks Global Luxury Pulse is the luxury consumer’s increasing willingness to embrace personalisation and AI, recognising the potential to further enhance their shopping experience. The more receptive customers are to these innovations, the better we will be able to serve them across Saks Global’s retail brands.”
But flashy logos and status buys aren’t the only priorities. Shoppers are increasingly demanding a more curated experience, with 94% saying they’re open to engaging with tools that make their shopping journey more personal. AI-powered recommendations, exclusive product access, and rewards programmes are topping the wishlist.
Two-thirds of luxury consumers now use AI for online shopping, primarily for size recommendations and product visualisation, though they’re less willing to upload personal photos for virtual try-ons.
With financial security ranking among their top concerns for 2025, high-end shoppers are being selective, but they’re still spending.