• Brandweek, Tuesday, October 10, 2006 12:02 PM

Surging gas prices in recent years have permanently affected the way people shop, according to two new studies. So marketers need to adjust to their new buying habits, even as consumers see some price relief at the pump. A study from Yankelovich shows that 67 percent of shoppers will shop for several items at one store, instead of driving around; 66 percent make price comparisons; 64 percent do research before making a purchase; and 63 percent are waiting for sales.

People are also buying fewer items, choosing products that are more durable, picking private labels over name brands and avoiding hyped new products that may not be worth the cash. ,br>
Unlike in the past, shopping habits will not shift back to the norm. "It's like a rubber band that's been stretched too much," says Lexi Hutto, senior consultant at Yankelovich. In support, a new report from Information Resources predicts gas prices will rise again in spring 2007 and recommends that packaged-goods marketers "plan for future periods of price escalation."

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