Many consumers are on edge amid new tariffs taking effect.
A new YouGov survey found 57% of U.S. adults think raising tariffs will hurt the average American, just 19% believe it will help.
Some consumers are reevaluating their spending amid fears that tariffs could increase the prices of many goods.
"Shoppers are still wrapping their heads around what categories are going to be impacted," said Stephanie Carls, a retail insights expert with RetailMeNot. "Consumers are way more cautious, and they want to stretch their dollar."
A Yale Budget Lab report found new tariffs could cost the average household $3,800 this year. Recent consumer data also points to a decline in certain spending areas including at restaurants and bars.
"We're starting to see consumers be conservative," said supply chain expert and business consultant Kimberly Reuter. "They're toning back on their spending. Luxury spending is starting to go down a little. We're seeing restaurant attendance is starting to go down. Those are the first signs of people starting to pinch the pennies."
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Some like billionaire businessman Mark Cuban are encouraging people to stockpile some goods.
In a post on Bluesky he wrote, "It's not a bad idea to go to the local Walmart or big box retailer and buy lots of consumables now."
But experts say consumers shouldn't hoard goods or stockpile certain products.
"My recommendation is not to do that," Reuter said. "It creates a trickle effect, because what it does is it artificially increases the price of the product."
But a survey taken before President Trump took office found 43% of consumers said they'd be more likely to stockpile goods in response to future tariffs.
Reuter hopes consumers learn from mistakes made during the pandemic when hoarding and stockpiling were common.
"We created more of a crisis in COVID than really existed," Reuter said. "What we learned is don't panic."
