What’s more fun to dance to: the Electric Slide or the Cupid Shuffle? 🤔 Maybe you’re more of a YMCA kinda guy? As for us, we’ll be in the corner fumbling through the Macarena. 💃
Whether a new Nintendo is on your kid’s Christmas list or Pops needs a new iPhone, you might want to jump on things sooner rather than later. With new tariffs in full swing, it’s a matter of time before price increases hit consumers.
Here’s Five Fast Facts on electronics and tariffs:
- 🏈 Nice Pass - When it comes to tariffs, retailers tend to feel them first and suck up extra costs. However, when inventory dries up, those costs often get passed down to consumers. Experts say we’ll likely see price increases on electronics by back-to-school shopping time (AKA real soon).
- 🤳 Who’s Callin’ My Phone - If the fam is due for smartphone upgrades, you may want to take care of that sooner rather than later. Tariffs will likely impact both iPhone and Android devices. In some cases, stores may give you a break in the form of trade-in credits or a back-to-school discount. But as new phones hit the market, expect those prices to jump.
- 🎮 Game On - Kiddos asking Santa for a new Playstation? You might wanna buy it now and get ahead of any tariff price creep. Big name game console manufacturers (Sony, Nintendo, Microsoft) don’t completely rely on China for manufacturing, but some of the components in their supply chain will likely get the tariff smackdown.
- 💻 Just My Type - Many stores offer deals on laptops and tablets for back-to-school. If you need one, take advantage. Because of price competition with other retailers, tablet and laptop manufacturers have little space to eat up tariff impacts. Snag deals while they’re still steals!
- 📺 Boob Tube - If you’ve had your eye on a new smart TV, take a breather. You don’t need to necessarily spring for one now. A ton of TVs are now made outside of China. Although they may have Chinese components, many manufacturers have already adjusted pricing, thanks to past trade changes. Sit back until Black Friday.
🔥Bottom line: With so much uncertainty around just how big of a splash tariffs will make, it’s better to be safe than sorry. Why not take advantage of upcoming sales and cover your bases? Your wallet will do a little (or big) happy dance. The Fed might say they’re independent, but are they really? Bop over to this article to read our hot takes.
Planning on buying any new electronics?
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