Retailers hope falling gas prices make consumers more optimistic, increase spending in holiday season

Retailers hope falling gas prices make consumers more optimistic, increase spending in holiday season
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POSTED: Friday, October 18, 2013 - 8:00am

UPDATED: Friday, October 18, 2013 - 10:37am

The fact Washington has averted an economic meltdown, for now, still isn't much consolation for many consumers.

"We're going to be back in the same boat three months from now when the deadline's looming and they are letting things go to the last minute." says Charlotte, North Carolina consumer Joanne O'Brien Beam.

In fact, some consumers are so pessimistic that not even lower gasoline prices are enough to get them to reverse attitude.

"Over the last two months, we've had a 30-cent drop in gas prices yet pessimism has gone up." says Jeff Lenard, Vice President of the National Association of Convenience Stores.

Lenard said a survey of consumers was just completed to see if lower gas prices would translate into lower pessimism. But the results were just the opposite.

Lenard beleives the outlook is decidedly more optimistic.

"There's no hurricane on the horizon that are of particular concern, there's nothing out there of partuicular concern that might jack up oil prices. So, hopefully next month, we'll be looking much better and that's really good news as we head into the holiday season." syas Lenard.

A holiday season that may end with gas prices falling to $3 dollars a gallon.

 

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