Saks CEO on Consumer Trends, Future of Luxury Retail

The transcript discusses the behavior of luxury consumers, noting a pullback in spending compared to previous years. It highlights differences between online and in-store shoppers, with online consumers being younger. Current fashion trends, such as the 'Yellowstone effect,' are influencing consumer choices, and businesses must adapt quickly. Discounting remains similar to pre-pandemic times, but inflation and supply chain issues affect costs. Growth strategies focus on market share and leveraging first-party data for personalization, while maintaining a strong online presence and partnerships.

What role does pop culture play in shaping luxury fashion trends?

What challenges are luxury retailers facing in terms of pricing and promotions?

How is the luxury market adapting to changes in consumer preferences and behaviors?