The IRI study recommends that CPG marketers consider planning for future periods of gas escalation, which will impact consumer shopping and purchase behavior across stores and brands.
Health and beauty care spending does not appear to be directly tied to gas prices; sales improved when gas prices declined during the fall and winter this past year and continued to improve when gas prices sharply increased during the spring. Consumers increased trips to local drug stores presumably to fill in product needs before the next big shopping trip. In fact, during this time frame, drug store dollar share increased a half point—one of the largest drug store increases in several years. More info: http://us.infores.com.