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Survey: Consumers trading down, consolidating trips because of fuel costs

Rapidly rising fuel prices are already having an impact on consumer spending.

According to new data from loyalty marketing technology provider Snipp Interactive, 31% of consumers said gas price increases have “significantly” or “extremely” impacted their household budget, while only 13% said they felt no impact at all. 

When asked which spending categories they had cut, dining out led all responses at 63%. Clothing (44.7%), entertainment (43.2%) and travel (38.9%) were the next most common answers. Nearly 36% of consumers said they had reduced grocery spending by trading down or buying less.

Survey: Consumers trading down, consolidating trips because of fuel costs | Chain Store Age

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