COLUMBUS, OH--(Marketwire - June 19, 2007) - When it comes to today's consumer, it's
difficult to figure out which way is up. It gets even more perplexing when
the voices of consumer experts, Wall Street analysts and media talking
heads chime in. Some say incomes are up, job growth steady, and that
people have more net worth to invest than ever. Consumers should feel fine
and be at the malls and restaurants spending up a storm. Others point out
that the housing market is in a free fall with home values dropping, the
personal savings rate at a 60 year low and negative, while household debt
levels are at record levels. In this scenario consumers need to hunker
down and wait out the impending economic storm. So what's a person to
think? Many consumers are feeling confused and wonder why they feel bad
when the experts say they should feel good.
Away from the land of econometrics and modeling lies a different world --
Main Street USA, where over 70% of the economic activity takes place by its
inhabitants who are known as consumers... real consumers who live their
daily lives without benefit of historical econometric models or knowing
what the price of a barrel of oil is. On Main Street USA, consumers worry
about today's price for a gallon of gas, how high it will be tomorrow or
what impact it will have on their budgets. They are concerned about their
grocery bills, which keep going up, and they want to find the retailer that
has the best quality at the lowest prices for Junior's new school outfit.
BIGresearch's June Consumer Intentions & Actions Survey (CIA) explores the
complex and ever-changing world of you and me, otherwise collectively known
as the consumer. Areas covered include how consumers are feeling about the
economy, high gas prices, their savings and future spending plans. What
follows is the collective wisdom of over 7,500 consumers, who participated
in BIGresearch's June CIA Survey. But be forewarned, we have not included
the voice of the experts in these findings since they represent far less
than the 70% of economic activity generated by the consumer market in Main
Street USA. What follows is what consumers say about their own situations,
which BIGresearch believes they know best.
-- Women are least confident in the economy over the next 6 months
followed by consumers with incomes below $50,000. Men are most confident.
-- Shopping trips are being impacted by higher gas prices as 41.9% of
consumers say they are taking fewer trips and 40.1% are shopping closer to
home.
-- Overall 72.9% of the people think gas prices will be higher by July
4th. 77.8% of consumers who have a student loan think gas prices will
increase over this time frame and the average price will be $3.39 a gallon.
-- 39.9% of the respondents believe the stock market accurately reflects
the strength of the economy and 60.9% said it doesn't.
-- 32.3% of all women respondents plan on decreasing spending over the
next 3 months and 32.9% of consumers with incomes over $50,000 said same.
-- Future purchase intentions for durables such as computers, furniture,
appliances, home improvements, TVs, digital cameras, and housing all are up
from the previous month (May) indicating consumers may have some pent up
spending to do in the 3rd and 4th quarter of the year.
For a detailed table of responses click on the URL link below:
http://www.bigresearch.com/bigciajune07.pdf
Additional information on CIA and other BIGresearch samples may be accessed
by going to:
http://www.bigresearch.com and clicking on Complimentary Top
Line Findings.
About BIGresearch
BIGresearch is a market intelligence firm providing analysis of consumer
behavior in areas of retail, financial services, automotive, and media.
They conduct the Consumer Intentions & Actions (CIA) Survey which monitors
the pulse of more than 7,000 consumers each month. The CIA delivers
current, demand-based information on where the retail consumer is shopping
and their changing behavior. The data provides intelligence on where the
retail consumer is going, their intentions and actions.
BIGresearch's methodology provides the most accurate consumer information
in the industry with a margin of error of +/- 1 percent.
Contact Information: Contact:
Phil Rist
BIGresearch
450 West Wilson Bridge Road
Suite 370
Worthington, Ohio 43085
(614) 846-0146