Anything For You All: The holidays are approaching and US consumers are very concerned over tariffs

Minggu, 06 Oktober 2019

The holidays are approaching and US consumers are very concerned over tariffs

NEW CHART: Payments and Commerce

US consumers are concerned about tariffs, which should worry merchants as the holidays approach…

The US-China trade war is ramping up with US President Trump introducing new tariffs on Chinese goods — and the situation isn't likely to defuse soon.

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Companies facing tariffs can either absorb the added expenses or pass them on to consumers, and most US consumers are worried about what new tariffs might mean for them.

More than half (54%) of US consumers said they were concerned that new tariffs on goods from international markets will impact the cost of items they purchase regularly, according to a survey from Intelligence Node. Even if consumers aren't yet feeling the full effects of the tariffs, they're already thinking about them, which could hurt consumer spending.
And with 83% of US consumers saying they are often or sometimes deterred from buying items online because of price, tariffs threaten to weaken e-tailers' performance. If retailers raise prices because of tariffs, consumers may choose to shop elsewhere or not make a purchase at all.
With the holiday season fast approaching, retailers will need to quickly determine how much of the cost of tariffs they can pass on to consumers without alienating them.

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