Tariffs will have a major impact on how consumers spend their money.

Seven-in-10 (70%) consumers say that they will reduce overall spending once new tariffs on imported goods go into effect, according to a new survey from e-commerce platform ESW. Millennials top the list of those planning spending cutbacks, with 78% indicating a reduction. More than half (54%) of baby boomers say they plan to stop buying certain imported goods to avoid higher prices.

Consumers plan to cut back on electronics (68%) because of tariff increases, while 61% will reduce purchases of apparel and accessories, and 51% plan to spend less on home goods.

Overall, 45% of consumers have pulled forward spending on electronics, and 37% are stocking up on groceries to avoid increased prices. Nearly six-in-

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