Nearly four in 10 consumers will go wherever the deal is best if retail prices jump due to tariffs and Baby Boomers will be leading the charge.
Those are top findings from a Wunderkind survey in April, "U.S. Tariffs: Consumer Impact Report, April 2025," regarding the impact on tariffs and consumer behavior.
Not only will consumers take the best deal, 56% will be more willing to wait longer for a cheaper product and even brand loyalists will be jumping ship if the price is right.
The survey revealed 46% are more likely to stay loyal to a brand if they're kept informed on pricing/inventory and given exclusive offers during uncertain times and almost half of consumers think clothing and fashion will be among the hardest items to afford.
Consumer awareness of tariffs is high, according to a press release on the findings, as 91% said they are aware of the tariffs being put in place. For a timeline of tariff decisions by President Donald Trump click here.
RetailCustomerExperience reached out via an email interview to Tim Glomb, VP of digital, content and AI at Wunderkind to gain more insight on the survey's results.
Q. Is this the first report you've done on tariffs and consumer behavior?
Glomb: Yes, this is the first one that we have done this year on tariffs and consumer behavior specifically. Wunderkind plans to continue polling U.S. consumer sentiment and behavior as long as the tariffs persist this year.
Q. So with tariffs in play consumers will focus on the best deal — and those brands who keep prices low or engage with them more?
Glomb: Consumers are super focused on price right now. If prices increase due to tariffs, Wunderkind found 39% of consumers will go wherever the best deal is, showing just how important pricing is to their purchase decisions. In fact, over half (56%) would be willing to wait longer for a product if it meant paying a lower price. As tariff-driven uncertainty intensifies, brand loyalty is also taking a hit. Just 46% of consumers say they would remain loyal, even with clear updates on pricing and availability — meaning more than half are willing to switch brands if the price is right. This signals a critical shift: loyalty is no longer guaranteed, even for brands that communicate transparently.
Q. What's the best approach for retailers and brands when consumers are concerned about tariffs, possible cost increases — any specific initiatives or strategies?
Glomb: Retailers and brands need to communicate effectively and transparently about pricing and product availability during tariff disruptions to maintain customer loyalty, as 46% of consumers indicate they are more likely to stay loyal to a brand that keeps them informed on pricing/inventory and provides exclusive offers during these uncertain times. Loyalty must be re-earned during these disruptions to ensure continued customer loyalty. Transparency on why the costs are rising is the best messaging tactic to retain these customers.