With new tariffs set to hit in August, shoppers may start feeling the impact. Jharonne Martis, Director Of Consumer Research At LSEG joined TheStreet to explain.
Transcript:
CAROLINE WOODS: What is the consensus. How many retailers have actually pushed those higher prices from tariffs onto the consumer. How many are expected to?
JHARONNE MARTIS: So so far as of, we’ve been tracking it in a collaboration with centric market intelligence, and actually up until the month of June, the prices in apparel have been down, which actually does. It does explain why we saw a splurge in apparel sales in the month of June, because as long as those prices continue to be down, we’re going to continue to see the consumer spend in that area. However, going into July and August, that could be a different picture, mainly because that’s when a lot of those other tariffs will be hitting. But yes, when it comes to expenditure, right now, we’re seeing that the biggest winners, even for the rest of the year, are going to be the discounters because consumers will be looking for those value oriented prices. TJX off price retailers are expected to do very well during the back to school season as kids go back to school.
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