New research by Nielsen shows 85 percent of U.S. consumers believe the country is in a recession and almost 70 percent of them believe the next 12 months are either a “bad” or “not so good” time to buy things they want or need. This has a major impact on supermarket, food service, c-store and petroleum verticals.
Remember those high gas prices at the pump? Remember the cries of talking heads from various media outlets chastising the greedy Big Oil companies? Just a year ago, gas at the pump hit an average of $4.50 or more throughout most of the country. In September alone, gas in Florida hit almost $5.50 per gallon thanks to Hurricane Ike and the sudden fuel shortage in the Southeast. All of a sudden, consumers were dealt a rude awakening.