Consumer Confidence Continues Climbing

Consumer Confidence Continues Climbing

According to the BIGResearch Consumer Intentions Survey this month, confidence is on a roll...after rebounding slightly last month, those declaring that they are confident/very confident in chances for a strong economy up another 4 points in June.  Confidence now stands at 46.3%, an improvement over June '04 and '03.

Citizens worried about political and national security issues are still on the decline, now at 15.9%, compared to 22.9%  last year. And, more than half or the consumers responding are becoming less practical in their purchases by favoring wants over needs.

4.2% of consumers are predicting "more" layoffs over the next 6 months, down a full percentage point from 2004, though slightly more consumers plan to pay down debt and increase their savings compared to May.

Even with our less practical consumers, 67.3% of men say price is still #1 when it comes to the reasons to shop a particular store most often. Then selection (56.8%), quality (43.6%), and location (43.0%).  The top reason to switch stores (as cited by those who've been shopping a particular store for Men's Clothing for one year or less) was high prices (22.6%) followed closely by inconvenient location (22.1%). 

Nationally, Wal-Mart continues to stomp the Grocery competition with 15.1% shopping there most often.  However, looking at how the grocers fare by region, Wal-Mart is not the king of every county:

Grocery Competition





1. Shoprite (9.8%)

Wal-Mart (14.7%)

Wal-Mart (25.5%)

Safeway (13.2%)

2. Stop 'n Shop (9.4%)

Kroger (9.9%)

Kroger (9.7%)

Albertsons (11.7%)

3. Shaws (6.7%)

Meijer (6.7%)

Publix (8.2%)

Wal-Mart (8.4%)

4. Wal-Mart (5.9%)

Cub Food (4.1%)

HEB (4.2%)

Ralphs (5.3%)

5. Giant (5.4%)

Jewel (3.7%)

Food Lion (3.8%)

Winco (4.3%)

Source: BIGResearch June 2005

With almost half of consumers planning vacation travel in the next 6 months, driving is preferred. Although gas prices are still averaging over $2 a gallon, cars are still #1 (69.8%)...46.1% are considering flight, while almost one in ten (9.3%) are thinking about setting sail on a cruise ship.

Perhaps hoarding their cash for summer getaways, 6 month purchase intentions fall slightly for several categories in June: furniture, digital cameras, stereo equipment and  autos down almost 2 points.  Home appliances up slightly, while computers, house, jewelry/watch, RV/boat, TV, and DVD/VCR flat compared to May. Home furnishings, improvement, and décor are up over the next 90 days compared to last month.

Find out more information here.

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