How Consumers Are Preparing For Tariffs Amid Economic Uncertainty

Since 2020, Americans have been on a roller coaster where prices are concerned. The consumer price index rose from an average of 1.2% in 2020 to 8% in 2022 then dropped to a still high 4.1% in 2023.
Shoppers adapted then – retail and food service receipts rose from $7.4 trillion in 2021 to $8.5 trillion in 2024. And they will adapt now. “In a moment of economic tension, consumers’ quiet resilience may be the more important signal for brands to pay attention to,” said Natalie Griffith, director of cultural insights at research firm Collage, which just conducted a survey among 1,000+ Americans about the pending impact of tariffs.