According to the BIGresearch Consumer Intentions & Actions Survey of over 8,000 consumers surveyed from 12/5 to 12/13:
Relative to the economy, consumers are pulling back on their optimism for state of the union this month 46.9% contend they are confident/very confident in chances for a strong economy, down from 50.3% last month, but still an increase from '05 (43.7%)
Expectations of a Strong Economy | |
Date | Percent of Respondents |
December 2003 | 47.7% |
December 2004 | 48.1 |
December 2005 | 43.7 |
December 2006 | 46.9 |
Source: BIGresearch, December 2006 |
Highlights of the research on current attitudes include:
While the number of drivers impacted by fluctuating gas prices remains relatively stable from last month and last year at 70.6%, the rising average price at the pump is breeding a pessimistic outlook on future prices. With AAA estimating the current average at $2.29/gal. (up from $2.23 last month):
The 90 Day Outlook continues to forecast good tidings for retailers...according to the BIGresearch Diffusion Index (those who say they spend less subtracted form those who'll spend more), while most categories declined from November (an indication that consumers will tighten their budgets after the New Year), all major categories improved from '05:
Retail Merchandise Categories - 90 Day Outlook (December 06 compared to November 06 and December 05) | ||
Category | November 06 | December 05 |
Children's | DOWN | UP |
Women's Dress | DOWN | UP |
Women's Casual | DOWN | UP |
Men's Dress | DOWN | UP |
Men's Casual | DOWN | UP |
Shoes | DOWN | UP |
HBC | UP slightly | UP |
Dining Out | DOWN | UP |
Decorative Home Furnishings | DOWN | UP |
Sporting Goods | DOWN | UP |
Linens/Bedding/Draperies | DOWN | UP |
Toys and Games | UP | UP |
CDs/DVDs/Videos/Books | DOWN | UP |
Electronics | DOWN | UP |
Groceries | DOWN | UP |
Home Improvement | DOWN | UP |
Lawn & Garden | UP | UP |
Home Furniture | DOWN slightly | UP |
Source: BIGresearch, December 2006 |
14.0% of consumers are contemplating an auto purchase in the next 6 months, up from 12.7% last month, almost 4 points from last year (10.4%), and more than 5 points from '04 (8.5%)
For more complete details in this report, please go to BIG here.