Luxury consumers are feeling less optimistic about the economy, yet remain engaged in luxury shopping, according to the latest Saks Luxury Pulse survey.
The primary reasons for declining confidence in the economy include global conflicts and economic instability, particularly among those with an income of $200K or more. In response to economic uncertainty, luxury consumers are prioritizing financial security, physical health, and travel or new experiences in 2025.
Still, 58% of respondents plan to continue spending the same or more on luxury.
Sixty-three percent of those earning $200K or more plan to maintain or increase their luxury spending, marking a 4 percentage point increase from the previous year. Among consumers earning less than $200K, 52% intend to maintain or increase their luxury spending, a 5 percentage point decrease year-over-year.
The survey also underscores a growing trend: luxury consumers are increasingly embracing personalization and AI-driven experiences to enhance their shopping journeys.
Consumers prefer engaging with personalized content online or via apps, followed by email marketing, while consumers find the most value in personalized content that offers exclusive access to limited-stock products, rewards, and special offers.
Ninety-four percent of luxury consumers said they are willing to engage in activities that enhance personalization, such as creating accounts, generating wishlists, and providing shopping preference feedback.
Meanwhile, 66% of luxury consumers said they are using AI features when shopping for fashion online, an increase of 2 percentage points compared to the same time last year.
The most popular AI-driven tools include size recommendations and product visualizations on different body types. However, consumers remain hesitant to use AI for virtual try-on experiences requiring personal photo uploads.
“At Saks Global, we’re working to reinvent luxury shopping by delivering luxury fashion and experiences perfectly curated for each customer. Our deep understanding of the luxury consumer–bolstered by this survey–strengthens our ability to do just that,” said Emily Essner, president & chief commercial officer, Saks Global.
“In the Saks Global Luxury Pulse, we’re pleased to see that the luxury consumer remains engaged in the luxury shopping experience, despite a dip in their optimism about the economy.”
