
Saks, a leading luxury e-commerce platform, has revealed insights from its latest Saks Luxury Pulse survey, highlighting consumer sentiment as the holiday shopping season approaches. The survey shows strong enthusiasm for holiday shopping this year, with 82% of luxury consumers celebrating the season planning to spend the same or more than they did in the previous year. This marks a seven-percentage-point increase from last holiday season.
Emily Essner, Chief Marketing Officer at Saks, expressed excitement about the findings, stating, “We’re thrilled to see the increased enthusiasm for this year’s holiday shopping season and look forward to offering customers exceptional shopping experiences across Saks Fifth Avenue. The holidays are a special time for the Saks brand, and in its 100th year, we’re excited to deepen our customer relationships, offer an inspiring luxury assortment, and provide the personalized service Saks is known for.”
According to the Saks Luxury Pulse, shoppers are starting their holiday shopping earlier and opting for online channels. This year, 70% of luxury consumers plan to begin shopping before Thanksgiving, a 14-percentage-point increase compared to last year, likely due to the shorter shopping season. While Millennial shoppers are expected to start shopping later than those from Generation X, Baby Boomers, and the Silent Generation, the shift to online shopping remains strong, with 64% of luxury consumers preferring to shop online, particularly Millennials (70%). However, in categories such as home décor and fine jewelry, in-person shopping is still favored, emphasizing the importance of a seamless cross-channel experience.
The survey also reveals that luxury consumers are highly engaged in holiday gifting. While 85% are shopping for gifts, many are also indulging in self-gifting, with 61% planning to buy luxury items for themselves. Women are more likely to purchase beauty products and hobby-related gifts, while men favor electronics, beverages, and shoes. The top gifts desired by consumers include fine jewelry (especially among women), clothing (especially for men), and experiences (favored by all respondents).
Additionally, this holiday season is marked by increased excitement. Sixty-six percent of luxury consumers say they will embrace the holiday spirit, with 24% intending to do so more than last year. Seventy-seven percent plan to attend a holiday gathering, and 62% will dress up for these occasions, with a notable portion planning to dress up even more than last year. Over half of respondents (53%) are also planning to travel, with Millennials and Generation X (57%) leading the way.
On the economic front, luxury consumers are feeling more optimistic. Sixty-five percent plan to spend the same or more on luxury goods over the next three months, and 48% are optimistic about the broader economy, a 12-percentage-point increase from last year. Additionally, 70% feel optimistic about their personal finances, a six-percentage-point rise from last year.
In celebration of the holidays, Saks is offering a curated Holiday Gift Guide, available on Saks.com and in stores, featuring a range of luxury fashion and lifestyle products. The company is also introducing experiential gifts with a charitable component, where proceeds support the Saks Fifth Avenue Foundation’s mission to prioritize mental health in communities. Notable experiences include private holiday shopping appointments, behind-the-scenes tours of Saks’ iconic windows, and unique opportunities for customers and their pets.
Saks continues to provide a variety of services for a seamless shopping experience, including:
- Buy Online, Pick Up in Store: Order online and pick up at a Saks Fifth Avenue store.
- Manhattan Same-Day Delivery: For Manhattan-based shoppers, Saks offers same-day delivery.
- Extended Holiday Return Policy: Purchases made after November 15, 2024, can be returned until January 15, 2025, with some exclusions.
- Fifth Avenue Club: Personal styling and shopping services for an elevated holiday experience, available in Saks stores and select luxury hotels.
With these offerings, Saks Fifth Avenue is set to deliver a truly personalized and convenient shopping experience this holiday season.