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Contents

Crashed Before One Mile Of Travel
June 19th, 2008

Common Use of Questionable Study Habits
May 5th, 2008

No Green Policy for UF Greek Houses
April 8th, 2008

No slow-down in new student housing market
April 8th, 2008

Graduate School or Job?
April 8th, 2008

International Gators - The Process
April 7th, 2008

Moo-ving to Renewable Energy
November 30th, 2007

Perks of RTS
November 30th, 2007

Don’t Blame UF for Lovebugs
November 30th, 2007

Internet Replacing Doctor Visits
November 30th, 2007

Personal Training: Not just for Celebrities
November 30th, 2007

Wearing flip-flops can lead to future health problems
November 30th, 2007

Ichetucknee River faces a killer plant
November 30th, 2007

Kidney Stones
November 29th, 2007

Changes in Your Environment Calls for Allergy Treatment
November 28th, 2007

Bacteria Linked to Chocolate Cravings
November 28th, 2007

Autism and Mental Retardation Affect More Than Those Diagnosed
November 28th, 2007

Plant Pathogen threatens Fla. Citrus Groves
November 27th, 2007

Portion Control May Lead to Weight Control
November 27th, 2007

Healthy Gators Promotes a Healthy Lifestyle
November 26th, 2007

Loud Music Can Lead to Hearing Loss
November 26th, 2007

Panic Attacks
November 26th, 2007

The Inconvenience of Good Skin
November 26th, 2007

High Gas Prices Are Keeping Shoppers Away
November 26th, 2007

UF Students Support World AIDS Day
November 26th, 2007

More

High Gas Prices Are Keeping Shoppers Away

High Gas Prices Are Keeping Shoppers Away

Chantalle Carles

Die-hard shoppers camping out in advance of predawn store openings, anxiously awaiting deals on laptops and handbags, sweaters and shoes is a familiar day-after-Thanksgiving sight when consumers take part in the traditional Black Friday shopping rush.

But it appeared that this year's kick-off to the holiday shopping season mellowed from past years with shorter checkout lines and fewer shoppers crowding around bargain bins.

"When we got here this morning, at around 6, the stores were just dead," said Julie Tokotch of St. Petersburg, Fla. " Usually the lines are out the door and there are no carts left for shopping. But today the parking lot was pretty empty, nothing like last year."

Although clutching Target and Wal-Mart shopping bags filled with gifts for the rest of her family, Tokotch said she approached the holiday shopping season with a tighter clutch on her wallet. The main reason for her cautious spending—gas prices.

"The prices are just ridiculous," she said. "We had to cram into one car today, just to avoid getting gas. We've taken to carpooling and just cutting our spending altogether."

In the past, the beginning of autumn, ushering in shorter days and cooler temperatures, would usually mean a fall in gasoline prices as the summer travel season comes to a close. But with the national average for regular gas at $3.08 a gallon this past week, that usual downward seasonal trend in prices has stalled. In the Gainesville metropolitan area, the average price motorists are paying is higher at $3.14 a gallon.

This could mean more consumers, like Tokotch, will hold back on their holiday shopping lists this year, according to a University of Florida marketing professor at the Warrington College of Business Administration.

"A large percentage of the population don't have the ability to expand their income to keep pace with what they're having to spend for gasoline each month, so they won't have excess income at the end of the month to spend." Richard Lutz said. "That means, with the holiday season approaching, retail sales will take a hit."

With gas prices having increased about 30 to 40 percent from summer to Thanksgiving, Lutz said, the average American consumer will see their spending power diminishing and, thus, will see fewer gifts under the tree. The financial woes caused by gas prices will not only affect the individual consumer but retailers and the whole economy as well.

"It may not affect you personally, it may not affect me personally, but it's going to affect a lot of people personally," he said. "When you combine all those people, it ends up in a decrease in sales, and, if people are really concerned, they'll pull back their spending even more."

The drop in sales may not be short term as Lutz said he expects to see gas prices increase in the coming months.
"We should prepare to see a future where gas prices are going to be repeatedly high," he said. "Retailers will see the results of this pressure on consumer's spending habits, especially around the holiday season."

Although the price tag for a full tank of gas has proven an inconvenience for many consumers like Tokotch, retailers at The Oaks Mall saw a promising turnout of people Friday for their door-buster deals.

"It's been pretty crowded, bustling actually," said Zak White, assistant sales manager in the shoe department for Dillard's. "We've never had this many great sales, and I think people want to take advantage of that."

Because gas prices have been high for a while now, White said he does not expect them to affect most people during the holiday season. Consumers still want to be able to give the "gift of giving" to their families, even if they are paying a hefty price tag for a full tank of gas, he said.

"It's our culture these days that if you want something bad enough, you're going to get it, high gas prices or not," he said. "'Tis the season to do some shopping."

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