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Tuesday, March 1, 2011

Gas prices shift the priority list of consumers

According to this snippet from Automotive Industry Digest and Automotive News, car shoppers are adjusting their car-buying criteria to account for jumping oil prices. (Click to link.)

Implications: The article suggests that at $3.50 per gallon, many consumers begin making adjustments to their driving habits, and at $4 or more, they begin changing their purchase intentions (favoring more fuel-efficient models).

Are you thinking about how an increase in fuel costs will impact consumer activities related to your company, product, or service?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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