Implications: America’s collective consciousness of higher gasoline prices is becoming evident. If the price of gas up to or beyond $4.15 per gallon—roughly the price when folks were freaking-out back in 2008—we will have seen the influence of The Fuel Economy on vehicle preferences and other consumer spending.
But how will higher gas prices affect you? Can you position your product or service as something that should still be attractive when budgets have again grown tighter? Have you been talking to your on-floor sales staff about up-selling customers… as a means of helping them accomplish more tasks on a single shopping trip? Do you sell a bulky product that one might need help getting home (free delivery) because of their inclination to use mass transit?
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.