Are higher gas costs changing how you shop?
Study shows record gasoline prices are impacting consumer spending habits
With gas prices expected to continue to rise as a result of the hurricane, we predict that these findings are just the beginning of a trend of more conservative shopping behaviors that should persist through the end of the year.
The high price of fuel is impacting different consumer segments to varying degrees, with a
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While the number of food coupons available dropped in the first half of the year by almost 8 percent, the value of the average food coupon is now 80 cents — for nonfoods the value is $1.31 — underscoring the value of using coupons every time you shop.
A higher proportion of affluent households than poor households are shopping more in warehouse club stores (9 percent vs. 6 percent) and on the Internet (7 percent vs. 3 percent). Not surprisingly, the affluent segment has the highest percentage of households (26 percent) claiming to feel no impact from higher fuel prices.
Phil Lempert is food editor of the “Today” show. He welcomes questions and comments, which can be sent to or by using the mail box below. For more about the latest trends on the supermarket shelves, visit Phil’s Web site at http://www.supermarketguru.com/.
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