New York City 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% of consumers say increased gas prices will impact their spending for the holiday, up from 42.1% of consumers 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.
A traditional Fourth of July trip to the beach or amusement park will be more expensive than it has ever been,” said Phil Rist, VP 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.”
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%).