COLUMBUS, OH -- (MARKET WIRE) -- April 13, 2007 --Consumer confidence slipped a little in April
according to the latest BIGresearch Consumer Intentions and Actions Survey
(CIA). 46.5% of the 7,859 consumers who participated in the survey said
they were confident or very confident about chances for a strong economy
over the next six months versus 46.9% in March.
"The uncertainty over the fluctuating price of gas is creating anxiety
among consumers as fewer are saying it is having no impact (26.7%) in April
than in March (27.4%)," said Gary Drenik, President & CEO of BIGresearch.
"The impact of higher gas prices is being felt by all the usual
expenditure suspects, as consumers say they are driving less, dining out
less, decreasing vacation travel and spending less on clothing," said
Drenik.
In the March survey, consumers said gas prices would hit $2.82 a gallon by
Easter, while the April survey showed they believe prices will reach $3.08
by Memorial Day.
"Since 83.4% of consumers believe prices will increase by Memorial Day, any
market actions which may confirm their suspicions could cause a reduction
in consumer spending on apparel, dining out and even driving less heading
into Memorial Day," said Drenik.
However, gas prices aren't the only issue impacting consumer confidence.
When asked to rank on a scale of 1-5 from a list of 14 issues ranging from
neighborhood security to financial security, consumers said the following
top 5 had the greatest impact:
Top 5 Issues Impacting Consumer Confidence
Issue Avg. on 1-5 Scale
----- -----------------
Ability to pay bills 4.49
Ability to save enough for future needs 4.31
Financial Security 4.31
Ability to pay healthcare costs 4.27
Stable energy prices 4.24
Additional information is available in the BIGresearch Executive Briefing
and may be accessed by going to:
http://www.bigresearch.com/news/EBApr07.htm.
About BIGresearch
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 and 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.
Contact Information: Contact:
Phil Rist
BIGresearch
450 West Wilson Bridge Road
Suite 370
Worthington, Ohio 43085
(614) 846-0146
Email Contact