Tariffs a growing concern with shoppers

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April 22, 2025

A majority of households have concerns about tariffs, a potential recession and stock market volatility, according to a Numerator report.

Most U.S. shoppers, 89%, are aware of new and proposed tariffs and 40% of consumers have a good idea of how tariffs impact prices.

The data came from two surveys conducted in April, 2025, according to a press release on the findings.

Additional findings include:

85% of consumers express concern about how tariffs will affect their personal finances and shopping behaviors, up four points from February.
72% of consumers are worried about higher prices on everyday goods.
83% of consumers anticipate making changes to their shopping behaviors in preparation for new tariffs. Almost half of consumers say they will look for sales or coupons (48%), followed by delaying purchases until prices stabilize (32%), buying fewer imported goods. (32%), stocking up on items prior to tariff-induced price increases (31%), and switching to U.S.-made alternatives (25%). Switching to U.S.-made products was the only reaction that declined in the past two months (-2 points), while delaying purchases (+10 points) and stocking up (+8 points) saw the largest increases.
72% of U.S. households are very or somewhat concerned about a recession occurring in the coming year. The unease is felt across the political spectrum; even in areas of the country that voted overwhelmingly for President Trump, 63% of households are very or somewhat concerned about an upcoming recession.
55% of all U.S. households believe recent tariffs will be bad for the U.S. economy during the next year, while 21% are unsure and 24% believe they will have a positive impact.