Kimberly Palmer, Neldwallet
With President Donald Trump instituting his tariff plan, you may wonder if you can expect a higher price when you shop.
Consumers are likely to see the most pressing impact on categories like food, where the cost of price increases tends to be directly passed, says Duleep Rodrigo, leader in the US consumer and retail division at KPMG, telling professional audit, tax and advisory services firms.
Other products, such as household items, are experiencing more calming effects, he says.
“Manufacturers or retailers may decide they want to absorb some of these price increases,” says Rodrigo.
He adds that in the current economic environment, consumers are so price sensitive that retailers are hesitant to hesitate to reach the full brunt of tariff-driven price hikes.
While shoppers may not have much control over prices, there are steps they can take to minimize the impact on their own revenue.
Here’s how to adjust your shopping habits in the age of tariffs:
1. Prepare your budget for price increases
“We need more budgets than ever,” says Andrea Woroch, a money-saving expert who shares budgeting tips on her website Andreaworoch.com.
The budget provides more control over how you are spending against uncertainty over the impact of tariffs, she says.
Budgets can take the form of an online budget calculator, an envelope-based tracking system, or a budget app that helps you track expenses.
“Without a spending plan, it’s easy to spend too much debt and earn money,” says Woroch.
To get started, she suggests tracking your spending and assigning different amounts to categories such as food, clothing, personal care and more. You can adjust as you go, especially if the price goes up.
At the same time, throwing away money for emergency funds can facilitate temporary price increases without undertaking additional credit card debt.
2. Compare prices and get discounts
They suggest looking for sales, comparing prices between retailers, and using tools such as coupon websites to find discounts and cashback offers. She adds that using credit cards that offer rewards and cashback can also help you grow your dollars.
If you are in the appliance or appliance market, you may consider purchasing a renovated item through a retailer that offers certification. Checking “new” used options when shopping on Amazon can often result in high-quality products at low prices.
Resale websites such as Poshmark and Sidelineswap can also offer attractive deals with items that are gently used, allowing you to sell your products to earn additional cash, adds Woroch. Using this method, she recently sold several old toys and clothes, and then used the proceeds to buy used skis for her daughter.
3. Resist pressure to spend early and frequently
Meir Statman, a financial professor at Santa Clara University’s Holiday School, said that while consumers may pressure them to make large purchases like new cars, it could be the wrong move before they raise prices as quickly as possible.
“People don’t always pause and ask if they actually need it,” says Statman, author of Happiness: A Overall Approach to Behavioral Finance.
He adds that buying more than you need can create other costs. For example, if you have a deep freezer in stock with beef, you will need to pay for electricity to freeze it. If you buy and store wine for your upcoming wedding, you may decide that you will need another type before your big day arrives.
“There’s no product you can think you should hurry up and buy right now,” says Statman.
Instead, consumers keep an eye on prices and suggest they need to buy when they really need them.
Kimberly Palmer writes for Nald Wallet. Email: kpalmer@nerdwallet.com. Twitter: @kimberlypalmer.
How to shop amid the uncertainty of tariffs originally appeared in Nerdwallet.
Original issue: March 13, 2025, 3:54pm EDT
