Home Owners Planning to Spend Less During the Holiday Season

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Consumers are optimistic about the economy’s direction, but remain practical, saying they continue to purchase items they need rather than those they want.

These findings and many others are detailed in the BIGresearch’s September Consumer Intentions and Actions Survey. Published monthly, the survey features detailed information on how consumers spend their money today, and how they intend to do so in the next three to six months.

In the September installment, 10.2 percent of consumers surveyed said the economy would recover in “under 6 months,” the highest percentage so far this year. In August, 8.9 percent believed that to be the case. Consumer confidence was also up to 39.2 percent from the August mark of 38.6.

“There are signs that people are starting to believe we are heading in the right direction,” said Joe Pilotta, Vice President of Research for BIGresearch. “This will definitely impact how successful the holiday season will be for retailers.”

When asked about spending plans for December, 21 percent of consumers surveyed said “it’s too early to know,” though 7 percent said they would spend more during that time. 38 percent said they’d be spending the same amount as last holiday season, while 31 percent said they’d spend less.

Those between the ages of 35 and 54 who own their own home are planning to spend less this holiday, as opposed to those planning to spend more, who are the younger side (18-44) and have more children in the household.

The outlook for the next 90 days is mixed, according to BIGresearch’s diffusion index. After subtracting those who say they’ll spend less from those who say they’ll spend more, categories that are still on an upswing include toys and games, CDs/DVDs/Videos/Books, groceries, all of women’s clothing and men’s dress clothes. For the complete rundown, visit http://www.bigresearch.com/news/90daySept03.htm. And to learn more about the CIA survey, visit http://www.bigresearch.com.

About BIGresearch
BIGresearch is a market intelligence firm providing analysis of consumer behavior. Its syndicated Consumer Intentions and Actions Survey monitors the pulse of more than 8,000 consumers each month to identify opportunities in a fragmented and changing marketplace.

Source: BIGresearch, September 17, 2003

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