Retailers Not Helped By Lower Gas Prices

The latest Consumer Fuels Survey results show that lower gas prices are not changing consumer buying behavior. Gas prices fell $.25 per gallon in September and $.60 since July. However, only 15% of consumers surveyed say they will spend more on non-fuel items in the coming month.

Declining gas prices are not increasing consumer optimism about the economy, as the recent stock decline is a concern for them. 89% of consumers say low gas prices are good for the economy, but 41% say the recent stock market decline has had an impact on their finances.

One segment of consumers are more optimistic. Among consumers aged 18 to 34, 23% say they will spend more money shopping this month.

Source: Retailing Today