Nielsen: Consumers Pull Back as Gasoline Prices Increase; Eating Out Suffers

The figure, which stands at 49%, up four points since June 2007, breaks down into the following categories, Nielsen said: 70% of consumers are combining shopping trips and other errands, 41% are eating out less, and 39% are staying home more often. As for the impact on foodservice, other surveys indicate that consumers are also trading down to less expensive outlets.

Todd Hale, senior vice president of Consumer Shopping & Insights, observed in a press statement that the large numbers of consumers eating out less and staying home more means a tough year for some restaurants. He said there may be an opportunity for consumer packaged goods (CPG) manufacturers and retailers to find growth in at-home meal solutions and at-work meals.

The survey finds that record-high gas prices likely contributed to 2007


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