Baby Boomer Family – Gas Prices and You

Welcome to this weeks edition of Baby Boomer Family – Gas Price and You

Show Notes:

Gas Prices Changing Consumer Habits – Nielsen Homescan Survey – December 2007

A new study from The Nielsen Company finds that 49 percent of U.S. consumers are reducing their spending to compensate for rising gas prices.   70 percent of consumers are combining shopping trips and errands, and 41 percent are eating out less, and 39 percent staying home more often.

The survey finds that record-high gas prices likely contributed to 2007's less-than-stellar holiday sales season. Sixty percent of consumers surveyed said they had less money to spend during the holidays due to increased gas prices.

Research shows a jump in consumers shopping on the Internet as a way to deal with high gas prices.

The survey shows that 27 percent of consumers are reacting to gas prices by shopping more at supercenters, or megastores and big-box stores, where more items needed are in one store.

Twenty-five  percent of consumers are using coupons to save money. Twenty-three percent of consumers indicate they will buy less expensive grocery brands to deal with higher gas prices.