Blog: Shopping begins at home
Leonie Barrie | 26 July 2006
US petrol pump costs hit an all-time high this week as prices reached an average of just over $3 a gallon on Monday. But while this is obviously bad news for motorists, what about the impact on retail sales? Liz Claiborne today blamed climbing energy prices for dampening consumer spending – and a new survey suggests that a quarter of adults are curtailing trips to the stores because of rising fuel prices.
But every cloud has a silver lining, or so it seems. Instead of leaving home for their dose of retail therapy, many consumers are now shopping from home: online, from a catalogue or the TV. The survey, commissioned by Newgistics Inc and conducted by Harris Interactive, suggests the home at the centre of other summer activities too. 85% are cooking at home instead of going out and 55% are renting movies instead of going to the cinema.
So maybe there are still ways of capturing valuable consumer dollars this summer.
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