Gas prices driving sales?
When Britt Beemer of America's Research Group asked people a year ago whether they intended to take summer vacations, about 48 percent said yes.
This year, only 16 percent have made plans for a getaway. The main culprit: prices at the pump.
"Everything vacation-related is up for grabs for retailers," Beemer said. "Consumers are admitting they haven't figured out the impact of gasoline on their family budgets yet. They're looking at it as a family financial crisis."
For Gander Mountain, the St. Paul-based outdoor retailer, it could be an opportunity, just in time for this weekend's fishing opener.
Should fuel prices keep people closer to home, they might buy a kayak to paddle on a city lake, or upgrade their grills and entertain at home instead of eating at restaurants. Perhaps they'll fish on a Minnesota lake instead of flying out West. Or, families might choose a camping vacation instead of springing for a hotel.
"The outdoor enthusiast is going to participate no matter what," said Gander Mountain CEO Mark Baker. "They may not make as many fishing trips or travel as far, but they're still going to go."
AAA is noticing a similar travel trend, though data from its Memorial Day survey aren't yet available.
"People are still planning to travel, but they're making accommodations within budgets," said Gail Weinholzer, spokeswoman with AAA Minnesota/Iowa. "They say they'll go a shorter distance, stay a shorter time, stay in less expensive hotels."
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