U.S. retailers rushed in goods ahead of tariffs — a move a new Wells Fargo report says could hit prices, product mix and holiday promotions.

Why it matters: Shoppers may see earlier sales, higher prices and fewer choices as retailers adjust.

The big picture: Wells Fargo's 2025 Supply Chain Report, released Wednesday, projects a landscape of altered holiday shopping patterns. • After tariffs were announced in April — with a subsequent pause for some items, and a 90-day China extension as well — retailers slowed orders until there was more clarity. • Some big chains front-loaded inventory to stay ahead of tariff costs. • Others paused, then placed leaner orders — focusing on bestsellers while skipping fringe products.

Zoom in: Here's how the tariff impacts are expected to show up.

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