PriceRunner Finds Online Retailers Benefit from Higher Gas Prices
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--June 4, 2007--As gas prices reach record high levels, consumers are changing their driving behavior and also reducing their spending on luxury items and regular items including groceries according to a survey of 1,000 consumers commissioned by PriceRunner.com. But online retailers may be seeing a benefit from higher gas prices as 22% of the respondents indicated that they are making more online purchases to save on the cost of driving to the store.
Given recent increases in gas prices, many of the 1,000 consumers reported definite changes to their behavior during the past year. The biggest adjustments to spending consumers made were: reducing general driving when possible (55%); reducing spending on luxury items (39%); changing their vacation plans (28%); and reducing spending on regular items including groceries (22%).
10% said that they had cancelled all or part of their vacation plans as a result of higher gas prices; 12.8% said they had chosen closer vacation destinations; and 5.3% said they had decided to fly instead of drive to their vacation destination.
Martin Andersen, General Manager of PriceRunner US, said, "Consumers can visit PriceRunner.com to find information on the lowest gas prices in their local areas. This is a valuable resource for consumers at a time when gasoline prices have such an impact on everyday spending and travel plans."
Amplitude Research® conducted this study, on behalf of PriceRunner.com, over a 4-day period from April 6th to April 9th, 2007 among a nationwide web panel. There were 1,000 survey respondents, resulting in a +/- 3.1% maximum sampling margin of error at the 95% confidence level.
PriceRunner.com is an internationally acclaimed comparison shopping engine that provides consumers with easy access to comprehensive buying information on a wide variety of products. PriceRunner aggregates product details, user and expert product reviews, retailer ratings, as well as the best available prices in one convenient location. PriceRunner distinguishes itself from other comparison shopping engines by providing consumers with the broadest price comparisons and always listing the lowest price first. PriceRunner's goal is to provide consumers with the ability to make an informed and confident buying decision. PriceRunner.com is a ValueClick, Inc. company.
About ValueClick, Inc.
ValueClick, Inc. (NASDAQ:VCLK) is one of the world's largest online marketing services companies, offering comprehensive and scalable solutions to deliver cost-effective customer acquisition for advertisers and robust revenue streams for publishers. ValueClick's performance-based solutions allow customers to reach their potential through multiple online marketing channels, including affiliate and search marketing, display advertising, lead generation, ad serving and email technology, and comparison shopping. ValueClick brands include Commission Junction, ValueClick Media, MediaPlex and PriceRunner. For more information, please visit www.valueclick.com.
John Ardis, 630-922-6423