ALEXANDRIA, Va. – The extended period of lower gas prices has certainly been embraced by Americans, who also overwhelming say that low prices are good for the U.S. economy. But there are significant variations in what consumers say they are doing with their savings. More than half of all consumers say that they are either saving more or paying off debts.

The latest NACS Convenience Matters podcast talks about who the winners are in retail with lower gas prices, and why. (Hint: Convenience stores are near the top of that list.)

Podcast co-hosts Jeff Lenard, NACS vice president of strategic industry initiatives, and Donovan Woods, Fuels Institute director of operations, discussed the results of NACS consumer surveys that look at what consumers are doing with their gas savings and if these consumers see any negatives related to lower gas prices.

“How Are Americans Spending Their Gas Price Savings?” can be downloaded on iTunes by searching for Convenience Matters, and it is also available at nacsonline.com/podcasts.

In 2015, lower gas prices led to an estimated $550 in savings per family. As gas prices continue to stay low into 2016, it is clear that some segments of the economy are benefitting from consumers’ economic gains.

“Convenience stores are among the biggest winners, especially as travel remains strong, since they sell both the fuel for vehicles and the snacks and drinks for on-the-go consumers,” Lenard said. “In addition, their increased offer in prepared food programs position convenience stores for growth as consumers eat more meals outside of the home. Retailers in all channels also should look at how they can incent consumers to spend more at their stores by better appealing to their interests and spending habits.”

A new Convenience Matters podcast will be released every week, focusing on topics related to convenience stores. 

The 2016 NACS Retail Fuels Report has a number of backgrounders that examine consumer surveys, including one on spending.