The latest “Saks Luxury Pulse” survey finds higher-income consumers continuing to spend on luxury despite record inflation and a plunging stock market.
According to the survey of over 2,100 U.S. consumers fielded between May 24 to 27:
- Seventy-six percent with an income of $200,000 or more plan to purchase the same or even more luxury items in the next three months than they did in the past three months.
- When asked where they would spend an extra $500, respondents with an income of $200,000 or more would spend first on vacation and leisure travel (38 percent), followed by shoes, accessories and handbags (29 percent).
