Study: Tariffs triggering purchasing, lifestyle changes
Study: Tariffs triggering purchasing, lifestyle changes

Study: Tariffs triggering purchasing, lifestyle changes

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Study: Tariffs triggering purchasing, lifestyle changes

42% of consumers are buying fewer products overall and 27% are switching to generic or store-brand alternatives. 39% say tariffs caused them to reconsider their summer travel plans entirely. Nearly half of U.S. and U.K. consumers who noticed these hikes say they’ve already switched away from their favorite brands.

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Rising costs driven by tariffs are causing consumers across the globe to scale back spending, switch brands, and rethink long-standing habits — including summer travel.

Forty-two percent of consumers are buying fewer products overall and 27% are switching to generic or store-brand alternatives, according to a study by UserTesting, conducted in partnership with Talker Research, which surveyed 4,000 consumers across the U.S., U.K. and Australia

In other findings, 18% of consumers are shopping second-hand more often and 20% are traveling less. Also, 39% say tariffs caused them to reconsider their summer travel plans entirely.

Price hikes are especially visible: 72% of U.S. consumers, 55% of Australians, and 68% of Brits report noticing tariff-related increases. Many are voting with their wallets. Nearly half of U.S. and U.K. consumers who noticed these hikes say they’ve already switched away from their favorite brands to find better value.

[READ MORE: JLL: Back-to-school spending to rise 17%]

Source: Chainstoreage.com | View original article

Source: https://chainstoreage.com/study-tariffs-triggering-purchasing-lifestyle-changes

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