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BizReport : E-commerce : June 13, 2007
Gas price rises may benefit online retailers
The rising price of gas is making U.S. consumers rethink their spending behavior, according to a new survey by PriceRunner.com.
The high cost of gas is having an effect on how, and what, U.S. consumers are spending their money on. Luxury items and holidays were top of the list of items that had to be reconsidered, found PriceRunner.com's latest survey, but car use came top. Of the 1,000 respondents 55 percent said that their driving behavior had to be modified to keep costs down.
This could make the tills ring for online retailers. Nearly a quarter (22 percent) of the respondents indicated that they would purchase more online to keep their travel, and consequently their gas use, to a minimum.
Ten percent of those surveyed said they had cancelled all, or part of, their vacation plans due to the near record-high gas prices. Nearly 13 percent had decided on a closer destination and just over 5 percent had decided to fly instead of drive to their chosen destination.
Tags: gas, online spending, PriceRunner.com
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