Retailers offer Fourth of July sales to offset gas prices
Retail stores nationwide will be cutting prices on food and beverages to cushion the financial pain of soaring gasoline prices, according to the National Retail Federation.
The Washington D.C.-based trade organization’s survey showed almost 60 percent of consumer respondents said spiraling fuel prices will exercise a downward effect on their holiday spending.
Only 42 percent said the same thing in a survey a year ago.
"Americans will continue to commemorate Independence Day this year, though higher gas prices will impact how they celebrate," NRF President and CEO Tracy Mullin says in a statement. "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."
That may help the 61 percent of survey respondents who said they plan to barbecue or attend a cookout during the holiday instant payday loan. Forty percent said they will go to a fireworks display, 10 percent will view a parade and 11 percent say they will take a vacation.
"A traditional Fourth of July trip to the beach or amusement park will be more expensive than it has ever been," says Phil Rist, vice president of strategy at BIGresearch, which conducted the survey of 8,351 consumers from June 3 to 10. "Instead of making elaborate travel plans, many consumers will choose to spend the holiday closer to home with family and friends."
www.nrf.com