In January 2023, a survey conducted by American luxury fashion digital platform Saks revealed that 62 per cent of US-based consumers plan to spend the same or more on luxury items in the upcoming months.
Respondents with an income of over $200K indicated a preference for spending on clothing after travel, events, and activities. Among those surveyed, 60 per cent said they plan to purchase clothing, and 36 per cent will spend on shoes for their upcoming trips.
Women respondents expressed a desire to embrace spring fashion, with colourful styles and statement tops being a popular choice for the next three months. Meanwhile, men are expected to go for clean sneakers, loafers, and tailored suits, as per the Saks Luxury Pulse survey.
Social media platforms are proving to be an excellent source of fashion inspiration, with Instagram being the most popular platform among 55 per cent of those surveyed. 45 per cent of respondents indicated that they frequently use social media to read reviews, while 33 per cent use the medium to get inspiration for outfits.
The Saks Luxury Pulse survey is conducted periodically to gauge luxury consumers’ attitudes towards shopping, spending, and fashion trends. The survey is based on responses from 2,832 US-based respondents over the age of 18 and was conducted between January 13-17, 2023.
By Fashionating World