Shopping strategies to get ahead of potential price hikes

The Street

Trae Bodge, a smart shopping expert and founder of TrueTrae, joins TheStreet to share some tips on how to prepare for potential tariff-related price hikes.

Transcript

00:00So, you know, economists are growing concerned that these tariffs could raise, you know,

00:06product prices, even on groceries as we head in, well, next year, really, because it doesn't start

00:11until you get into office. So what tips do you have for smarter shopping if these tariffs do

00:18come into play? Yeah, so this is a really interesting question. I mean, it's not going to be

00:25very soon that we're going to see price increases, but those price increases could be happening. I

00:32am seeing a lot of chatter on social media where people are kind of panic buying. I wouldn't

00:37recommend that. I don't think stockpiling right now is worth doing. But I would say this. If you

00:44have, say, a big ticket item on your list that you're considering buying in six months to a year,

00:51maybe it's a new appliance for your home, for example, or you need a new car, you might want

00:57to start looking around now. And if you find an amazing deal on that item, perhaps you shift your

01:03budget around a little bit and invest in that item now versus waiting, because it is possible that

01:08that item, if it's especially if it's imported from China, that price could go way up. I mean,

01:14obviously, this is all still like all up in the air, and we don't really know. But I so I don't

01:20think it's time for panic buying, but you might want to just move some priorities around,

01:24especially if it's something bigger ticket that's on your list.

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