SOURCE: BIGresearch

November 09, 2007 10:30 ET

BIGresearch November CIA: Confidence Sinks, Gas Price Impact Increases and Future Spending Plans Decline

COLUMBUS, OH--(Marketwire - November 9, 2007) - Consumer confidence sunk to 37.3% (people very confident or confident), the lowest level since June of 2006, according to the 7,982 consumers who participated in BIGresearch's ( November Consumer Intentions & Actions Survey (CIA).

"Gas price increases may be a contributing factor and 80% of consumers also said they expect prices to hit $3.25 by Christmas," said Gary Drenik, President & CEO of BIGresearch.

Consumer concerns over the economy and gas prices are prompting them to take several measures to compensate with 41% saying they are taking fewer shopping trips and shopping closer to home.

The all important holiday shopping season is already in gear with many retailers "leap frogging" the traditional day after Thanksgiving with deep discount specials. But retailers may have to extend the sales throughout the season as 33.5% of consumers said they are worse off than a year ago and 50% said there is "too much month at the end of their paycheck."

Over the next 90 days, consumer spending plans are down across most merchandise categories with the exception of sporting goods and lawn & garden versus November '06.

"Consumers' intention to stick to a budget (37.1%), do more comparative shopping via circulars/newspapers (26.7%) and use more coupons (27.8%) may further impact retailers' margins. Another recent phenomenon retailers will have to contend with which may impact their bottom lines is the growing popularity of gift card purchases, which creates a spending shift beyond the traditional holiday season," said Drenik.

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About BIGresearch

BIGresearch is a consumer intelligence firm providing analysis of behavior in areas of products and services, retail, financial services, automotive, and media. Each month, BIGresearch conducts the Consumer Intentions and Actions (CIA) Survey which monitors the pulse of more than 7,000 consumers. The CIA delivers fresh, demand-based information on where the retail consumer is shopping and their changing behavior. Unlike indicators based on past performance, this data brings intelligence on where the retail consumer is going, their intentions and actions. They also conduct the Simultaneous Media Survey (SIMM) which monitors over 15,000 consumers each month.

BIGresearch's methodology provides the most accurate consumer information in the industry with a margin of error of +/- 1 percent.

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