Gas prices have surged since the war in Iran began, but instead of changing *how much* they buy, consumers are changing *how and what* they buy.
In the latest issue of The Total, we break down what rising gas prices actually signal across fuel, grocery, and restaurants.
🚗 Drivers aren’t buying less fuel, but they’re making more transactions, buying less each time, and trading down from premium and midgrade fuels.
🍽️ Early signals show that food spending could be about to shift, with pressure on restaurants and a tailwind — at least initially — for grocery
⌚ Past spikes show that rising gas prices accelerate value-seeking behavior, with more shoppers actively looking for ways to save
The throughline: We’re seeing in real time how price spikes shift spending behavior. For retailers, that changes the playbook. Get the full breakdown 👇
H/T to contributors Thomas Weinandy, David Poulnot, and Jeffrey Rubin