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Independence Day celebrations affected by gas prices, NRF
17 Jun '08
2 min read
With the official beginning of summer just a few days away, consumers are beginning to think twice about their July 4th plans. According to the National Retail Federation's 2008 Independence Day Consumer Intentions and Actions survey, conducted by BIGresearch, 59.4 percent of consumers say increased gas prices will impact their spending for the holiday, up from 42.1 percent of consumers who said so last year.
Additionally, almost 200 million Americans (87.8%) feel the price of gas will cost more by the Fourth of July than it does now. On average, consumers expect that the average price of gas nationwide will be $4.39 per gallon on July 4.
“Americans will continue to commemorate Independence Day this year, though higher gas prices will impact how they celebrate,” said NRF President and CEO Tracy Mullin.
“Retailers are aware of the strain gas prices have on consumers' wallets and will be offering special promotions on food and beverages for the millions of people planning summer barbecues.”
This year, nearly two-thirds (61.2%) of consumers will light up their grills or attend a cookout or barbecue on the Fourth. Additionally, consumers will attend a fireworks celebration (40.2%), go to a parade (10.5%) and travel or take a vacation (11.2%).
“A traditional Fourth of July trip to the beach or amusement park will be more expensive than it has ever been,” said Phil Rist, Vice President of Strategy at BIGresearch. “Instead of making elaborate travel plans, many consumers will choose to spend the holiday closer to home with family and friends.”
When it comes to what patriotic merchandise consumers already own, 120 million Americans say they own an American flag, 85 million have patriotic apparel, and 56 million own decorations. Sixteen percent of consumers stated they'd purchase additional patriotic merchandise this month, compared to 17.3 percent who said they would last year.
Additionally, almost 200 million Americans (87.8%) feel the price of gas will cost more by the Fourth of July than it does now. On average, consumers expect that the average price of gas nationwide will be $4.39 per gallon on July 4.
“Americans will continue to commemorate Independence Day this year, though higher gas prices will impact how they celebrate,” said NRF President and CEO Tracy Mullin.
“Retailers are aware of the strain gas prices have on consumers' wallets and will be offering special promotions on food and beverages for the millions of people planning summer barbecues.”
This year, nearly two-thirds (61.2%) of consumers will light up their grills or attend a cookout or barbecue on the Fourth. Additionally, consumers will attend a fireworks celebration (40.2%), go to a parade (10.5%) and travel or take a vacation (11.2%).
“A traditional Fourth of July trip to the beach or amusement park will be more expensive than it has ever been,” said Phil Rist, Vice President of Strategy at BIGresearch. “Instead of making elaborate travel plans, many consumers will choose to spend the holiday closer to home with family and friends.”
When it comes to what patriotic merchandise consumers already own, 120 million Americans say they own an American flag, 85 million have patriotic apparel, and 56 million own decorations. Sixteen percent of consumers stated they'd purchase additional patriotic merchandise this month, compared to 17.3 percent who said they would last year.
National Retail Federation
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