Retailers are facing a challenging summer as tariffs and a weaker U.S. dollar raise concerns about a potential sales slowdown. Recent surveys show that most Americans are tightening their budgets, with only 16% planning to increase discretionary spending this summer, a slight drop from last year. Additionally, 37% of consumers say they will cut back on spending during the summer and holidays, and many are prioritizing essentials or searching for discounts.
Key Takeaways:
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Most Americans are watching their spending closely, with fewer planning to increase discretionary purchases this summer.
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A weaker U.S. dollar and higher tariffs are expected to limit consumer buying power and raise household costs.
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March retail sales rose as shoppers acted before tariffs took effect, but sustained growth is uncertain.
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