Survey: Consumers Expect Tariffs To Increase Small Appliance Prices

While the issue of tariffs has been much discussed throughout 2018, retailers and housewares product suppliers have expressed concern about their potential impact on consumer buying habits.

A recent survey by consumer insight firm Numerator on the issue of tariffs and the impact on the small appliance segment found that more than half of survey respondents (54.2%) are in favor of tariffs. In addition, an overwhelming majority of those surveyed said they would neither shop more or less as a result of the tariffs.

However, the impact of tariffs on the price of products may lead to some consumers buying a product earlier than they had anticipated, according to the survey. Nearly one-third of those who are pro-tariffs said they would purchase a needed item earlier than expected in an effort to offset possible price increases related to tariffs. Of those who are anti-tariff, 21.1% said they would buy an item earlier than anticipated.

On the topic of price increases, an overwhelming majority of survey respondents expect to see higher prices as a result of the tariffs. Of those who said they are pro-tariff, 53.7% said they either completely agree or somewhat agree the tariffs will lead to price increases while 76% of those who are anti-tariff said they either completely agree or somewhat agree that tariffs will lead to price increases.

In addition, 46.2% of respondents who said they are anti-tariff expect prices to rise significantly, while 49.4% of respondents who are pro-tariff expect prices to slightly rise.