Staff Reports
Black Friday is known as the Super Bowl of shopping, but it looks like this year, retailers are gearing up for an entire season of sales, all thanks to the incoming Trump administration. With whispers of hefty tariffs soaring around the $25% mark on goods coming from Canada and Mexico, consumers are bracing themselves for price hikes unless they act fast. The prospect of rising appliances, furniture, and even that post-holiday bottle of wine has shoppers making strategic plans well ahead of time.
President-elect Donald Trump has made it clear that these tariffs will only be implemented if Canada and Mexico don’t get their acts together regarding drugs and illegal immigration. This could mean that everything from electronics to straightforward lawn furniture will be treated like that rare collectible item that collectors just must have—and they’ll pay dearly for it. Economic experts have lined up to warn that even a modest 20% tariff could hit American families right where it hurts, potentially racking up an annual increase of about $2,600. Ouch.
Black Friday … Many retailers sending out emails and advertising strategies, saying buy now before Trump's Tariffs take affect. Think about that. If tariffs are going to affect their prices, it's because the product they're selling isn't made in America. That's the point of… pic.twitter.com/ucnW3Z0WOp
— MAGA PATRIOT TGM (TERI) (@udreams30) November 29, 2024
The National Retail Federation is in on the action too, estimating that even a slight 10% increase could send clothing prices jumping like a kid on a trampoline, with estimated hikes ranging from 12.5% to a jaw-dropping 20.6%. That’s enough to make anyone reconsider that new winter wardrobe. Retailers, including heavy hitters like Walmart and Autozone, have openly admitted that these tariffs will likely translate to higher prices for their customers, turning joy-filled shopping trips into an exercise in sticker shock.
In response to the looming financial disaster that those tariffs could bring, retailers are jumping on the pretariff sale bandwagon. Furniture companies and local businesses are jumping ship early by slashing prices in a last-ditch effort to attract buyers before the impending price hikes threaten their bottom lines. One online furniture retailer even resorted to calling the situation a “Pre-Tariff sale!” Doubling prices is no laughing matter, but what’s a business owner to do when the government may be about to throw a wrench in their plans?
As the countdown continues to Trump’s inauguration, sensing a real sense of urgency, consumers are beginning to strategize their holiday shopping. Over 44% of people surveyed are currently plotting their pre-Trump shopping spree, fearing that if they don’t act now, they might end up paying more for goods that were once affordable. Financial experts are practically waving their arms in excitement, calling on consumers to cash in on existing sales before the financial storm hits. Black Friday deals, DVD players, and even Christmas gifts are all likely to see markdowns, so consumers are encouraged to take advantage of the remaining bargains. It’s the ultimate shopping scramble, and the race is on!
