Saks Luxury Pulse Finds 76% of Luxury Consumers Plan to Spend the Same or More During the Holidays
Saks continues to deliver elevated experiences, services and luxury gifts
NEW YORK - November 4, 2022 - Saks, the premier digital platform for luxury fashion, has unveiled its latest Saks Luxury Pulse survey of luxury shoppers. Fielded in September 2022, the survey found that consumers are ready to shop for the holidays ahead of Thanksgiving (65%) and expect to spend the same or more than they did last year (76%). Throughout the holiday season, Saks is delivering an elevated luxury shopping experience to customers, with unique services and one-of-a-kind gifting opportunities.
“Despite an evolving economic environment, we’re pleased to see luxury consumers’ enthusiasm for shopping this holiday season, both for themselves and others,” said Marc Metrick, CEO, Saks. “As our customers go out, travel and celebrate the holiday season, we expect them to take advantage of opportunities for self purchasing in addition to luxury gifting. We are confident they will turn to Saks for these occasions and are ready to deliver the best in fashion and lifestyle merchandise.”
Emily Essner, Chief Marketing Officer, Saks, added, “The Saks Luxury Pulse provides us with meaningful insights that allow us to understand our customer more deeply. With the most recent results closely in line with our findings from last year’s survey, we see that the vast majority of luxury consumers remain excited and ready to shop for the holidays, even amid a different economic landscape. From our seamless services to a curated gift-guide and unique experiential offerings, customers can rely on Saks to help them make the most of this very special time of year.”
The latest Saks Luxury Pulse survey of luxury shoppers provides consumer insights on holiday spending plans. Among respondents who plan to celebrate the holidays:
- 76% of respondents said they plan to spend the same or more on holiday shopping this year compared to last year, down slightly from 79% last year.
- 65% say they plan to start holiday shopping before Thanksgiving, versus 68% of respondents who planned to shop pre-Thanksgiving last year.
- 43% of respondents plan to shop mostly online with some in store shopping this holiday season compared to 50% last year. This year-over-year decline translated to an increase in those who are planning to split holiday shopping equally between online and stores, with 24% this year compared to 17% last year.
- When choosing where to shop, respondents said that delivery and pickup options are their top priority, including free shipping and returns.
Holiday Fashion & Occasions
- 61% of respondents say they will shop for new holiday attire, up significantly from 45% last year.
- The percent of respondents who plan to dress up in formal attire this holiday season (32%) doubled compared to last year (16%).
- When asked about their holiday plans, 50% of respondents said they plan to attend and/or host a holiday party and 27% said they plan to go on vacation to a tropical or ski destination.
- When it comes to gifting, respondents said they want to give gift cards (69%), clothes (64%) and hobbies (e.g., books, handcrafted items, movies, etc.) (51%) as gifts to others.
- When sharing what they wanted to receive as a gift, respondents chose clothes (48%), beauty and fragrance items (33%) and wine and spirits (33%).
- Respondents are most interested in self-gifting shoes (39%), handbags (28%) and beauty and fragrance items (27%).
Delivering the Best in Luxury for the Holidays and Beyond
To help customers navigate holiday shopping and find the best in luxury for themselves and their loved ones, Saks’ annual Holiday Gift Guide is available on Saks.com and in Saks Fifth Avenue stores. It features a curated selection of must-have gifts across women’s, men’s and kids fashion, as well as beauty, jewelry, home and lifestyle merchandise.
With Saks’ Holiday Experiences, customers can also take celebrations to another level this year with extraordinary experiential gifts and extravagances that also give back. Each holiday experience package purchase supports the Saks Fifth Avenue Foundation, which works to make mental health a priority in every community. The once-in-a-lifetime experiences include:
- VIP Access to the Saks Holiday Show: See the magic unfold at the iconic Saks Holiday Show with a prime view of the windows and light show, live from Fifth Avenue on November 22. To get ready for the show like a VIP, you’ll also have a one-on-one styling session with a Saks Style Advisor, who’ll curate your look for an exclusive cocktail party beforehand. Then, you’ll make your way up to L’Avenue at Saks for a delightful holiday dinner after the show.**
- Be Featured in a Saks Kids’ Campaign: For your little model-in-the-making, here's their chance to be a featured talent in an upcoming Saks photo shoot. Enjoy chauffeur service to the set where they’ll receive hair, makeup and wardrobe styling before being photographed as part of the Saks Fall 2023 kids’ campaign. You’ll also receive a $1000 Saks Gift Card, special gift bag and images from the shoot when they are published.**
- Indulge in a Private Dessert Tasting at L’Avenue at Saks: Enjoy a delicious dinner with your closest friends at L’Avenue at Saks, followed by a dessert tasting experience. The executive pastry chef at L’Avenue at Saks, Stephanie Oliveira, will walk you through a tasting of each dessert on the menu, including seasonal specials and L’Avenue at Saks classics.**
- Take a Private Tour of the Holiday Windows: What's more festive than taking a look behind-the-scenes of the iconic windows at the Saks Fifth Avenue New York Flagship? During a private tour, you’ll get a look at what goes into creating the annual displays. Afterward, head up to L’Avenue at Saks for an evening bite for you and your closest friends.**
To view the full list of holiday experiences, visit Saks.com/holidayexperiences. Plus, discover this season’s must-have trends via The It List within The Edit on Saks.com, the Saks editorial hub that provides an inside look at the latest fashion and style inspiration
**Saks will donate proceeds from the sale of the Holiday Experiences that are purchased to the Saks Fifth Avenue Foundation. See specific package pages for more details.
Making it Easy with Elevated Service Offerings
Saks offers a seamless shopping experience whenever and wherever customers prefer to shop this holiday season, with services including:
- Saks Stylist: Stylists are available to assist Saks Fifth Avenue customers with personalized recommendations for holiday attire with no minimum spend required. Customers may contact stylists at email@example.com for assistance.
- Holiday Gift Concierge: Customers can contact firstname.lastname@example.org for complimentary gifting assistance with no minimum spend required.
- Buy Online, Pick Up in Store: Customers can place an order on Saks.com and pick it up at their nearest Saks Fifth Avenue store.
- Manhattan Same-Day Delivery: Manhattan-based shoppers can take advantage of Saks’ same-day delivery service for last-minute holiday shopping.
About the Saks Luxury Pulse
The Saks Luxury Pulse is a periodic online survey of luxury consumers’ attitudes towards shopping, spending and fashion trends. It is based on responses from 2,376 U.S.-based respondents over age 18 and was fielded between September 16-19, 2022.
Saks is the premier digital platform for luxury fashion in North America. Driven by a mission to help customers express themselves through relevant and inspiring style, we serve as a destination to explore and discover the latest from established and emerging designers. Our expertly curated assortment features sought-after names in women’s, men’s and kids fashion, as well as beauty, home and lifestyle merchandise. Through the Saks website and app, we provide access to professional stylists, inspiring editorial content and interactive events. Our differentiated approach seamlessly combines elevated online experiences with in-person services through an exclusive partnership with the Saks Fifth Avenue stores.