How should retailers adjust their plans to account for the impact of rising gas prices?
Planning for Rising Gas Prices
Planning for Rising Gas Prices: How should retailers adjust their plans to account for the impact of rising gas prices?
Gas prices are at a historic high in terms of the number you see at the pump and a higher overall price growth than we’ve seen in a generation. This combination has lots of consumers beginning the process of cutting back on spending, especially in areas like travel and other luxuries.
So far, retailers mainly have been impacted by higher transport costs, but as gas prices remain high, consumers are beginning to turn back more to non-store retail, as well as consolidating their shopping trips and looking to cut back on spending – buying more store brands and cutting back on small luxuries.
In this report, Prevedere’s senior economist Lindsey Peterson analyzes the impact of rising gas prices on the retail industry and addresses how retailers can strategically plan for high gas prices in the coming months.
Download the complimentary report now. >>
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