What: The Saks Luxury Pulse survey found that 75% of luxury shoppers plan to spend the same or more on their holiday shopping this year, similar to last year's numbers.

Why it is important: The findings of the Saks Pulse survey reveal the holiday shopping intentions of luxury consumers which allows businesses in the luxury sector to tailor their strategies and marketing efforts accordingly.

57% of luxury consumers plan to spend the same or more on luxury goods in the next three months, with a slight decline among those earning USD 200,000 or more. More shoppers are planning to wait until after Thanksgiving to start their holiday shopping, with a 10% increase compared to last year. 64% of shoppers plan to do most of their shopping online, representing a 15% increase from the previous year.

Although economic concerns persist, 64% of luxury shoppers still feel optimistic about their own finances and there is a slight increase in the willingness of luxury consumers to pay full price for their purchases.

Luxury consumers also plan to spend 46% of their holiday budget on themselves, with Millennials more likely to adopt this trend.

Saks Luxury Pulse survey finds that most luxe shoppers will spend the same or more