CHICAGO Information Resources, Inc. on Wednesday launched IRI Market Pulse report, which provides results of rapid, topical research on an ongoing basis.
IRI’s first Market Pulse speaks to the recent decline in gas and energy prices—shoppers are placing those saved dollars and putting them back into the bank. According to the Market Pulse survey, 87 percent of respondents are continuing to try to save gas despite falling prices; 85 percent are continuing to be “very cautious in their spending; and 74 percent believe the current falling gas prices are only temporary.
Consumers remain extremely negative about the U.S. economy as a whole—just 19 percent of respondents expect the economy to improve in the next six months. These shoppers continue to pursue a wide range of money-saving strategies, such as eating out less, cooking in more, and trying to make basic goods, such as cleaning supplies and shampoos, last longer.
“It is clear that decreasing gas and energy prices will have little or no impact on shopper behavior over the holidays,” stated Thom Blischok, president of IRI consulting and innovation. “Conditioned by spiking energy and commodity prices, the severe problems in U.S. financial markets and the fall into recession, shoppers are cutting back severely.”