Impact of Tariffs: Consumers Anticipating Spending Cuts and Early Holiday Shopping

There’s a noticeable shift happening in how people shop right now. With trade policy updates, rising prices, and fewer promotions on everyday items, shoppers are rethinking not just what they buy—but when, where, and why they’re buying it.

According to a new RetailMeNot survey, 81% of shoppers say they’re already feeling the effects of tariffs on their everyday purchases. And those changes aren’t subtle. From higher prices to fewer sales, these shifts are changing how people approach their budgets.

With costs going up, shoppers are tightening their spending. Here’s where they’re planning to pull back this summer:

• Dining out and takeout – 50%
• Clothing and accessories – 49%
• Electronics – 45%
• Travel – 42%
• Groceries – 29%
• Home improvement – 28%

Only 9% of consumers said they weren’t planning to make any cutbacks at all. That means over 90% are adjusting in some way—and quickly.

Despite the pressure, shoppers aren’t freezing. They’re getting ahead.

• 60% say they’re starting holiday gift shopping early this year
• 37% are already planning for back-to-school
• 30% are thinking ahead to Thanksgiving
• 27% are prepping for Halloween

This isn’t just about spreading out spending—it’s about getting ahead of future price increases or possible shipping delays. Shoppers are acting early because they don’t want to be caught off guard later.

Here’s where consumers say they’re seeing price hikes right now:

• Groceries – 71%
• Dining out – 43%
• Electronics – 35%
  Fashion – 32%
• Fuel – 31%
• Shipping costs – 36%
• Out-of-stock or delayed items – 32%
• Tariff surcharges called out at checkout – 24%

Only 11% of respondents say they haven’t noticed price increases—everyone else is feeling the change.

People aren’t panicking, but they are shifting. Nearly half (47%) say they’re focusing more on “needs versus wants” when they shop. Here’s what else they’re doing:

• 43% plan to buy less overall
• 38% are using more coupons and cashback tools
  37% are comparing prices across retailers
• 35% are delaying major purchases
• 33% are switching to store or off-brand items

Even when shoppers are told tariffs are directly driving prices up, many are still buying—but not without pause. 35% say they’d still complete the purchase but feel frustrated, 24% would remove something from their cart, and 7% would abandon the cart altogether.

More than half of shoppers (55%) say they’re feeling increased pressure on their household budgets. And most expect that pressure to grow:

• Over 70% believe tariffs will make their financial situation worse (40% expect their household finances to be “slightly worse” over the next 6 months due to tariffs, while 31% expect it to be “much worse”)
• 31% said that they’re concerned about affording their summer plans
• Only 12% expect any improvement

Tariffs and trade policy aren’t abstract anymore—they’re showing up in grocery receipts, cart totals, and shipping delays. In response, we’re seeing a more strategic shopper emerge. They’re still spending, but with intention.

At RetailMeNot, we call this shift precision shopping—being thoughtful about what you buy, when you buy it, and how you layer in savings through promo codes, cash back, and loyalty rewards.

It’s not about cutting everything out. It’s about choosing well, stacking your savings, and getting more from the purchases you’re already planning to make.

Source: Ziff Davis Shopping Survey Adults 18+. N=1120. Fielded in May 2025