Despite economic struggles for many Americans, luxury spending is expected to remain high for the next three months, a Saks Luxury Pulse report finds.
The highest priority for luxury spenders will be vacations and related spending, such as clothing and shoes. The 62% of survey respondents who say they will spend the same or more on luxury compared to the previous three months say that they are financially comfortable and have a desire to update their wardrobes, inspired in part by social media influence. The survey, conducted in January, polled nearly three thousand American consumers over the age of 18.
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