As the holiday season nears, 77% of U.S. shoppers say they’re aware of new or proposed tariffs and are bracing for higher prices and supply shifts, according to Numerator.
Awareness actually peaked in April before falling to 71% by early July, yet the latest figure suggests consumers have begun paying more attention to tariffs as the holiday season approaches. Many shoppers, at 45%, worry about limited product availability, 34% about the tariff impact on the stock market and 30% about slower economic growth. Overall, 57% of U.S. consumers believe tariffs will have a negative impact on the national economy and 77% worry about a recession occurring within the next year.
Shoppers are most concerned about tariff-related price increases in essential categories, Numerator pointed out, such as groceries (58%), household goods (43%), gasoline (40%) and medications/medical supplies (36%). In response to tariffs as the holidays approach, 82% of consumers said they anticipate making changes to their shopping habits, such as cutting back on non-essential spending, for 47%, looking for sales or coupons to offset tariff price increases, for 42%, delaying non-essential or big-ticket purchases, for 32%, or switching to lower-priced retailers or discount stores, for 29%.
Although awareness is high, understanding remains mixed, according to Numerator, with 36% of shoppers saying they fully grasp how tariffs affect prices, while 47% indicated that they have a general idea but lack details and 15% admitted to having little to no understanding of the issue.
Numerator noted other study findings include:
- 87% of consumers are concerned about the impact of tariffs on their finances or shopping.
- 63% of consumers worry about tariffs raising the price of everyday goods, while 59% expressed trepidation about general inflation, and 48% fret about higher prices on non-essential items.
- 19% of consumers expressed concern about tariffs affecting their job or industry.
- 41% believe tariffs in general have pros and cons depending on how they’re implemented, while 25% think they’re harmful and 23% think they’re helpful.
- 60% believe opinions on tariffs are primarily shaped by political affiliation.
- 32% of consumers support the current tariffs, 22% feel neutral or have no opinion, and 45% oppose.
Opinions are stronger on the negative side, with those who strongly oppose outnumbering those who strongly support 30% to 13%, Numerator maintained.
