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13 September 2005
Schaumburg, IL
Record high gasoline prices are leading large numbers of consumers to change how they shop and spend, with many people combining errands, eating out less often, and doing more at home. Those are among the findings from a new survey from ACNielsen U.S., the leading provider of consumer and marketplace information.
The high price of fuel is impacting different consumer segments to varying degrees, with a higher proportion of poor households than affluent households stating that they are using coupons more often (23% of poor households vs. 14% of affluent households), buying less expensive brands of groceries (20% vs. 10%), opting for a lower grade of gasoline (19% vs. 12%), and reducing spending in other areas “to a great degree” (15% vs. 5%). A higher proportion of affluent households than poor households are shopping more in warehouse club stores (9% of affluent households vs. 6% of poor households) and on the Internet (7% vs. 3%). Not surprisingly, the affluent segment has the highest percentage of households (26%) claiming that higher fuel prices have had no impact on their driving and spending habits.
| What impact, if any, has higher gas prices had on your household's driving and spending habits? |
| Impact |
Total |
Poor* |
Getting By* |
Living Comfortably* |
Affluent* |
| Trying harder to combine errands/trips |
61% |
54% |
64% |
61% |
52% |
| Eating out less often |
31% |
31% |
33% |
31% |
23% |
| Doing more things at home rather than going out |
30% |
32% |
32% |
30% |
24% |
| Switching to lower priced gas stations |
30% |
31% |
29% |
29% |
27% |
| Reducing spending in other areas to small degree |
26% |
20% |
25% |
28% |
24% |
| Shopping at more supercenters where everything we need is in one store |
22% |
23% |
25% |
22% |
15% |
| Using coupons more often |
20% |
23% |
22% |
20% |
14% |
| Buying less expensive brands of grocery items |
17% |
20% |
21% |
16% |
10% |
| Using a lower grade of gasoline |
16% |
19% |
18% |
15% |
12% |
| Reducing spending in other areas to a great degree |
10% |
15% |
12% |
10% |
5% |
| Buying larger, economy size grocery item |
10% |
10% |
10% |
9% |
7% |
| Shopping more at warehouse club stores where everything we need is in one store |
9% |
6% |
7% |
9% |
9% |
| Shopping more on the Internet rather than visit stores |
5% |
3% |
4% |
4% |
7% |
| Using public transportation more |
3% |
4% |
3% |
3% |
3% |
| Considering/using a grocery home delivery service |
1% |
1% |
1% |
0% |
1% |
| None of the above/no impact on driving and spending habits |
19% |
10% |
12% |
17% |
26% |
Source: ACNielsen Homescan
* Affluence Segment Definitions (household size and household income)
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Household Size
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Poor
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Getting By
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Living Comfortably
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Affluent
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Todd Hale, ACNielsen senior vice president, Consumer Insights, pointed out that gas prices have gone up even further since the survey was conducted in June and July: “With the added economic uncertainty created by the disaster in New Orleans and other parts of the Gulf Coast, you can be sure that there are even more people now looking for ways to conserve fuel and reduce overall spending.”
As the impact of Hurricane Katrina ripples through the economy, putting further pressure on the price of fuel and other items, Hale said the consumer packaged goods (CPG) industry needs a multi-faceted response. “The most important need right now, of course, is for continued donations of products and cash. But there will be a longer-term impact as well, with opportunities for one-stop-shop retailers like supercenters and warehouse club stores to win the ongoing business of customers who are visiting their stores for the first time and for supermarket operators to play up the convenience of their store locations and the value of their take-home meals. Lastly, the fact that many consumers are doing more at home should spell opportunity for manufacturers whose products can enhance the at-home entertainment experience.”
The ACNielsen survey was conducted among 37,000 members of its Homescan® consumer panel. Currently totaling 91,500 households, Homescan is in the midst of its “Mega Panel” initiative which will grow the panel to an industry-leading 125,000 households by the end of October.
About ACNielsen
ACNielsen, a VNU business, is the world’s leading marketing information provider. Offering services in more than 100 countries, the unit provides measurement and analysis of marketplace dynamics and consumer attitudes and behavior. Clients rely on ACNielsen’s market research, proprietary products, analytical tools and professional service to understand competitive performance, to uncover new opportunities and to raise the profitability of their marketing and sales campaigns.
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