The impact of tariffs on consumer purchase decisions will vary from product to product based on whether shoppers view an item as a necessity or a luxury, according to the results of a recent study by The NPD Group.
Following months of record growth, the level of imports at the nation’s ports have slowed, according to a report from the National Retail Federation and Hackett Associates.
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.
Imports at the nation’s major retail container ports are expected to remain at near-record levels in October despite a new round of tariffs that took effect in September, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
In its effort to fight the recent $200 billion in tariffs imposed by the Trump administration, Walmart raised concerns with the U.S. Trade Representative about the potential economic impact tariffs could have on retailers, suppliers and consumers.
The National Retail Federation has updated its retail sales forecast for 2018, declaring that tax reform and other economic inputs would boost revenues more than previously predicted but warning that tariffs threaten to dampen consumer confidence.
The International Housewares Association is speaking out against the latest round of tariffs being proposed by the Trump Administration, with the IHA’s chairman labeling the new tariffs now being discussed as potentially “disruptive.”
The National Retail Federation has responded to a list of $200 billion of Chinese imports targeted for new tariffs that was released by the Office of the U.S. Trade Representative, emphasizing that those taxes will hurt families across the U.S.
As part of a pilot program at 17 Gainesville, Florida, area stores, Walgreens is bringing together new approaches to pricing and promotions, product selection, the shopping experience and strategic collaborations to bring new services to customers.
Lidl is opening the company’s first supermarkets in the U.S. on June 15, and in anticipation of the event, it is releasing its first-ever U.S. pricing leaflet.
The fourth quarter has arrived and with it the final preparations by retailers for the holiday season. While the first three quarters of 2016 were largely unspectacular across a number of housewares product segments, all eyes are now watching what steps retailers will take to drive product into the hands of consumers.