With new tariffs on imported goods set for August 1, consumers are curbing summer spending. A majority are cutting back on dining out, clothing, electronics, and travel, with over 90% making some adjustments to personal finances. Most feel increased budget pressure and expect household finances to worsen due to tariffs. Many shoppers are also starting holiday and back-to-school shopping earlier to avoid future price hikes.
Key Takeaways:
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Over 90% of consumers are adjusting their spending as tariffs approach, especially in dining, clothing, electronics, and travel.
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More than half feel increased financial pressure and anticipate a negative impact on household budgets.
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Shoppers are starting holiday and seasonal shopping early to stay ahead of rising prices.
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