Key stat: Only 28% of US luxury consumers felt optimistic about the economy in April 2025, down from 41% in January 2025 and 45% in April 2024, according to data from Saks.

Beyond the chart:

• Over a quarter (26%) of US adults have reduced their spending on luxury goods, according to May 2025 data from Dentsu.
• However, roughly the same percentage (26.1%) have purchased used or refurbished luxury items, according to November 2024 data from ESW, highlighting an opportunity for the secondhand luxury market.

Use this chart: For marketers and retailers, the takeaway is clear—even luxury buyers are feeling the pinch. Rethink messaging to emphasize value, investment-worthy quality, and exclusivity. Consider loyalty perks and personalized outreach to retain high-value customers amid shifting sentiment.

Related EMARKETER reports:

• US Luxury Consumers and Their Path to Purchase (EMARKETER subscription required)
• Luxury Ecommerce 2024 (EMARKETER subscription required)

Methodology: Data is from the April 2025 Saks report titled "The Saks Global Luxury Pulse." 1,248 US luxury consumers age 18+ were surveyed online during April 24–28, 2025. The quarterly survey tracks consumer attitudes toward luxury shopping, spending, and economic sentiment. Saks Global conducted the research following the company’s acquisition of Neiman Marcus and Bergdorf Goodman, broadening the survey’s scope.