Falling gas prices helped restaurants and grocers last year, and consumers used their savings to spend more on cars, health care, online and travel, according to JPMorgan Chase’s latest Share of Wallet analysis.
The report found the biggest losers were gas stations, electronics and department stores, which all saw their share of consumer spending shrink.
Vicki Contavespi splurged on a vacation last year, going snorkeling in the Caribbean and paying for it with savings from the gas pump. The Sterling, Virginia, resident estimates she saved an average of $200 a month last year due to cheaper gasoline.
