Rising gas prices are having a widespread effect on consumers across the U.S. That's according to a new Nielsen Company study, mentioned in this MediaPostPublications article. According to the study, 49 percent of U.S. consumers are reducing their spending because of high gas prices. As a result, 70 percent of consumers are making car trips count by combining shopping trips and errands. 41 percent are eating out less and 30 percent say they're staying home more often. "Manufacturers and retailers need to be alert to the fact that consumers are looking to save by altering where they shop, how they shop and what products and brands they buy," said Todd Hale, senior VP of Consumer Shopping & Insights. "Value, convenience and competitive pricing will be more important than ever in the year ahead."

Specifically, Hale said manufacturers and retailers should look for growth in at-home meal solutions and at-work meals. Also, Hale says research shows a jump in online shopping. According to Hale, manufacturers and retailers should "step up to their 'direct-to-consumer' efforts and utilize the internet to communicate directly with consumers in 2008."