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Survey Finds Consumers Feeling Frugal

Americans Reluctant to Buy Big Ticket Items

January 25, 2007
Over 40% of shoppers (44.9%) say that they "don't want to spend the money" when asked why they are putting purchases of $500 or more on hold, according to a survey conducted by America's Research Group (ARG).

Only 36.4% last year gave this reason for their cautious spending on big-ticket items. Another 18% said that these items are "more than they want to spend," compared with 13% last year.

"Retailers should take note of these highly frugal shoppers who remains cautious about spending their hard-earned money," said C. Britt Beemer, founder and CEO of ARG. He called this consumer attitude a "negative sign" for first quarter retail sales.

Consumers questioned in early January continue to look for items on sale, according to ARG, with only 26.5% of them saying they would buy at full retail price.

More consumers than ever before (19.4%) reported "putting on hold" purchases of $500 or more in the December shopping period, compared to 16.2% in December 2005 and 12.5% in December 2004.

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