Americans will still pay for luxury goods, and Instagram has become a source of fashion inspiration!

According to the latest survey of luxury shoppers by Saks Luxury Pulse, American consumers will continue to spend on luxury goods in the next three months. Among them, most consumers (62%) will spend the same or more money on luxury goods as in the past three months.

American luxury shoppers prioritize spending on travel, with 72% having already booked or planned future trips. Among them, the top items they plan to buy for travel are clothing (60%) and shoes (36%). In addition to travel, luxury shoppers also plan to buy luxury goods for nights out, special events and work.

"While consumer spending has shifted as the economic environment has changed, we continue to see a continued interest in luxury goods," said Saks CEO Marc Metric.

Other key findings from Saks’ survey include:

- Consumers use social media apps when shopping for luxury goods – primarily Instagram (55%).

Consumers frequently use social media to read reviews (45%) and get inspiration for clothing (33%).

- When asked what services they want most when shopping, free alterations and repairs (64%) and in-store returns (55%) ranked in the top three.

-Consumers with annual incomes of $200,000 or more plan to spend first on travel, activities and events, followed by clothing.

- Gen Z and Millennials plan to prioritize spending on travel, events and sports more than any other generation.

-Female luxury shoppers plan to embrace spring fashions, such as colorful silhouettes and statement tops, over the next three months. Men plan to embrace clean sneakers, loafers and tailored suits.

Editor ✎ Nicole/

Disclaimer: This article is copyrighted and may not be reproduced without permission.