New Nielsen Study Shows Affects of Rising Gas Prices
Increasingly feeling the pain at the pump, more U.S. consumers are taking steps to compensate for rising gas prices, according to new research from The Nielsen Company. Nearly two-thirds (63 percent) of consumers are reducing their spending, up 18 points since June 2007 and up 14 points in the last six months alone.
Nielsen's research also finds that more consumers are combining shopping trips (78 percent), and more than half of consumers are now eating out less (52 percent) and staying home more often (51 percent).
Increased fuel prices are leading nearly one-third (32 percent) of consumers to use more coupons as a way to save money, up from 25 percent in December 2007. Seeking to get the bulk of their errands done while using less gas, 28 percent of consumer report doing more of their shopping at super centers where more items are in one store. The research also shows that more consumers (35 percent) are buying less expensive brands, up 12 points since December 2007, and some consumers are shopping online and carpooling or using public transportation more often.
Nielsen's research also finds that more consumers are combining shopping trips (78 percent), and more than half of consumers are now eating out less (52 percent) and staying home more often (51 percent).
Increased fuel prices are leading nearly one-third (32 percent) of consumers to use more coupons as a way to save money, up from 25 percent in December 2007. Seeking to get the bulk of their errands done while using less gas, 28 percent of consumer report doing more of their shopping at super centers where more items are in one store. The research also shows that more consumers (35 percent) are buying less expensive brands, up 12 points since December 2007, and some consumers are shopping online and carpooling or using public transportation more often.