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Are You Spending Less When Daylight Saving Time Ends?

If not, you probably should be, according to a report from JPMorgan Chase Institute.

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The study, outlined in an article over at CNBC, found that, overall, shoppers are spending about 3.5 percent less time in grocery stores, gas stations, and at retailers in the month that follows the end of daylight saving time.

Here’s what researchers did: They compared shopping habits in Phoenix, Arizona, which does not participate in the daylight saving time ritual, to shopping habits in Los Angeles, Denver, and San Diego for the period under examination. And when the results were in, the researchers discovered that consumers in the DST areas are spending less than those in the non-DST areas.

For example, it turned out that Los Angeles shoppers spent almost five percent less on fuel and at retail stores during the 30-day period following the DST switch, and almost six percent less at grocery stores.

According to Marvin Monroe Ward Jr., one of the JPMorgan Chase researchers who helped assemble the study, “This is almost a subconscious thing. The shift in [consumers’] minds is largely consistent with their environment, in this case, less sunshine.”

The fact that this is something of which consumers aren’t aware likely means they’re not thinking in terms of productively using any actual dividend that may be accruing. But assuming you live in an area that participates in DST, you might want to see if, in fact, you are a little more flush with cash, and, if so, consider putting some to good use.

By Robert G. Yetman, Jr. Editor At Large

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