by Calculated Risk on 5/18/2006 10:48:00 AM

The National Retail Federation released the results of a new survey today: Survey Finds Consumers Adjusting to Higher Prices at the Pump

While consumers have seemed resilient in the face of higher energy costs, a tipping point may soon be in sight. According to the National Retail Federation’s (NRF) 2006 Gas Prices Consumer Intentions and Actions Survey, 76.0 percent of consumers believe fluctuating gas prices have impacted their spending habits, up from 67.2 percent in 2005 and 56.8 percent in 2004. The survey will be featured as the cover story in the June 2006 issue of STORES Magazine.

Consumers say they will find a variety of ways to cope with higher prices. Most (44.8%) say they will simply drive less. Additionally, 37.2 percent of those surveyed say they plan to decrease vacation and/or travel, 36.2 percent will cut back on dining out, while only 22.2 percent will delay a major purchase such as a car or television. Also, eight percent of respondents say they will carpool, almost double the amount from the previous year (4.5%).

While the luxury market has been particularly immune to the rise in gas prices, new evidence suggests that even the recession-proof shopper may start pulling in the reins. According to the study, 69.3 percent of affluent shoppers (with household incomes of $50,000 or higher) concede that gas prices are negatively affecting spending, compared to 59.1 percent in 2005.

And from the Stores cover story: Are Shoppers Running Out of Gas?

With per-gallon prices now at or above $3 in many parts of the country, there are signals that often-impulsive shoppers are dangerously close to running out of gas.

Right now they’re in cost-cutting mode — driving and dining out less and scaling back on discretionary spending.