Consumers will most certainly be impacted by the wave of tariffs that is causing higher prices and potentially reduced choices this holiday season. And according to a new survey from research group YouGov, they are likely to search out American made products more than in the past.
Almost a third of survey respondents said that tariffs will cause them to spend less this year while another third reported they planned to spend about the same. Only 8 percent expect to increase their spending, YouGov found.
A little over three out of every ten shoppers said they are “much more likely” or “somewhat more likely” to buy more Made-in-America merchandise than in the past, specifically citing tariffs as the motivating factor in their purchasing plans. Most of the rest of the survey group said tariffs would not impact their country-of-origin spending.
The survey also asked about the impact of specific shopping events like Black Friday, Cyber Monday and Amazon Prime Day.
Participation in the first two is projected to be consistent with previous years but consumers indicated they were “somewhat” or “very likely” to spend more on Amazon’s big promotion, which would seem to indicate similar strength for competing events from such retailers as Walmart and Target.
“This year’s Black Friday and Cyber Monday are about more than deals,” said Ashley Brown, senior director of account management at YouGov. “They are a barometer of how Americans are navigating uncertainty. Shoppers are signaling they want to buy earlier, spend less and shop with values in mind.”
Looking for domestically made products also is a sign of the times even if shoppers will find that harder than they might think. “The sharp turn toward ‘Made in USA’ products reflects the pressure today’s consumers feel as they head into the holiday season,” Brown said.
YouGov’s survey was conducted it mid-August with 1,536 respondents in the United States.