Consumer Pessimism Continues To Increase
September 10, 2013
Alexandria, VA — Consumers are more pessimistic about the economy than they have been all year, despite a decrease in gas prices throughout the past month, a National Association of Convenience Stores survey finds.
Results show 61 percent of consumers say they are pessimistic, an increase from the 58 percent who said they were pessimistic a month ago, when gas prices were four cents higher than they what they were when the survey took place September 3-4.
Nearly 90 percent of consumers say gas prices have an impact on their overall feelings about the economy. In their forecast for the next 30 days, 54 percent of survey participants expect prices to keep increasing. In the previous month, 51 percent said they felt this way.
NACS Vice-President of Government Relations John Eichberger explains: “It appears that general uncertainty — whether over gas prices or market volatility or the situation in Syria — is putting a significant strain on consumers, and that could negatively affect discretionary spending. Typically, consumers tend to shop more in stores through much of August due to warmer weather, late summer trips and back-to-school needs. Rising consumer pessimism is something that all retailers will be monitoring as we head into fall.”
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