Why back-to-school shopping is starting early this year
CNN · New
CNN
New
The National Retail Federation says many families have started back-to-school shopping earlier than usual this year. There are concerns President Donald Trump’s tariffs could drive prices higher, so families are looking for deals as they try to avoid any tariff-related price hikes.
Breakdown
- Steep tariff hikes are leading families to shop for school supplies earlier than usual.
- A record number of families began shopping in July to avoid anticipated price increases. 19s
- Economists predict electronics prices could rise by 18% and clothing by 37% due to tariffs. 50s
- Families are budgeting less for back-to-school shopping, and retailers are offering discounts. 1m 10s
- Experts warn that higher prices will reach consumers once current inventories are depleted. 1m 57s