COLUMBUS, OH -- (MARKET WIRE) -- January 12, 2007 -- Consumers appear to be more optimistic about
the 2007 economy according to BIGresearch's January Consumer Intentions and
Actions Survey (CIA) of 7,700 respondents. Consumer confidence increased to
50.5% in January versus 46.9% in December, indicating greater consumer
optimism as the new year begins.
The decline in the price of gas may be stimulating the increase of optimism
as more consumers in January said gas prices weren't having an impact on
their spending (33.1% vs. 29.4% in December). In addition, milder than
normal temperatures for the eastern half of the U.S. are bringing good news
from the post man in the form of lower home heating bills.
However, the increase in confidence is tempered by a more cautious consumer
who may be trying to work off the extra debt accumulated from holiday
spending. Fewer consumers in January said they plan on making major
purchases on items such as automobiles, computers, furniture and
appliances. Unfortunately, housing is not up, but its also not down as it
remained flat from December.
Consumers are also starting out the new year by attempting to put their
wallets on a diet with paying down debt (38.3%) and increasing savings
(30.3%) being the top two financial plans. However, it may be difficult for
consumers to stick to their financial diets as the percentage of consumers
becoming more practical in purchasing declined from December's 40.8% to
39.6% and fewer consumers claim to be budget conscious (36.5% vs. 38.5%).
Other highlights from the January CIA survey include:
-- Wal-Mart was #1 in Women's Clothing (12%), but their share was down
from last January when it was 18.5%
-- Investors' confidence in the stock market increased to 68.6% from
65.0% in December
-- Payless maintained a slight lead over Wal-Mart in shoes, 12.5% to
10.6%
-- Best Buy topped electronics category
-- Wal-Mart was leader in grocery and HBA
-- 90 day outlook for all merchandise groups were off from December, but
up from January 2006
-- Big ticket purchases including autos, computers, furniture, home
appliances and housing declined from December, but were up versus January
2006.
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. The
syndicated Simultaneous Media Usage Study (SIMM) monitors more than 15,000
consumers twice each year to identify opportunities in a fragmented and
changing marketplace including the media. They also conduct the Consumer
Intentions and Actions Survey (CIA) which monitors the pulse of more than
7,000 consumers each month.
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
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Suite 370
Worthington, Ohio 43085
(614) 846-0146
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