60% of Consumers Have Cut Back on Driving

As the national average for a gallon of gas edges closer to $4-a-gallon, consumers have cut back on their driving, reports The NPD Group. That should come as no surprise. That's what consumers always do when fuel prices climb.

The number of gallons purchased are down 1.2 percent from a year ago, NPD says. In addition, a consumer survey conducted by NPD in January 2011 to gauge what price level would be required to cause consumers to drive less suggests that at today's gas prices (national average is $3.79-a-gallon) approximately 60 percent of consumers are cutting back on driving already.

That should have implications for retailers of all sorts. Higher gas prices mean less discretionary income left for other purchases. What remains unclear is whether online retailers could benefit, if shoppers drive less to physical retail outlets.

Sixty Percent of Consumers Have Cut Back on Driving Due to Higher Gas Prices, NPD Reports