BIGresearch's May Survey: Fashion-Oriented Consumers Decline as Gas Prices Increase
COLUMBUS, OH -- (MARKET WIRE) -- May 22, 2007 -- The recent increase in fashion-oriented
shoppers hit a bump in the road in May as 22% fewer consumers than in March
said that "newest trends and styles best identified their fashion
feelings," according to BIGresearch's May Consumer Intentions & Actions
Survey (CIA) of 8,353 consumers.
The percentage of fashion-oriented consumers grew 92% from 9% in May 2005
to 17.3% in March 2007. As gas prices began to escalate in March, the
number declined to 16.9% in April. With the additional gas hikes in May,
the percentage tumbled to 13.5%, a decrease of 20% from April.
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"Fashion-conscious consumers who prefer the newest trends and fashions tend
to be younger, single females who favor name brands and are willing to pay
more to look fashionable," said Gary Drenik, President & CEO of
BIGresearch. "The fashion forward consumer is a lucrative high margin
customer and their wallets seem to be pinched by higher gas prices. As a
result, retail sales of fashion clothing would be impacted as shoppers
switch to less expensive brands, look for sales, shop online and / or
closer to home," said Drenik.
How Have Fluctuating Gas Prices Impacted Your Spending?
Newest Trend Shoppers All
Spending Less on Clothing 28.6% 24.1%
Reduced Dining Out 35.7% 31.1%
Driving Less 40.2% 40.0%
Additional information on CIA and other BIGresearch samples may be accessed
by going to: http://www.bigresearch.com and clicking on Complimentary Top
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.
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