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Instant Intelligence: How consumers in 4 global markets are feeling the pinch of tariffs

In Australia, Germany, the U.K., and the U.S., more than half of consumers believe the cost of goods and services has already increased amid economic uncertainty.

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New research shows tariffs are reshaping consumer spending across major markets. 

What we found: In the U.S., 52% of consumers believe the cost of goods and services has already increased due to tariffs, an 18% month-over-month increase.1 That sentiment is even stronger overseas: 69% in Australia, 68% in Germany, and 66% of consumers surveyed in the U.K. attribute higher prices to trade policies. Across each market, people are using different strategies to adjust their spending habits. 

  • In Germany, 61% of consumers are opting to prepare meals at home instead of going to quick-service restaurants, and 69% are swapping some branded goods for white-label goods.2 

  • In the U.K., 43% of consumers are trying to buy fewer American products, while 61% are keeping a close eye on travel costs, with more than half agreeing higher rates will lead to less travel.3 

  • Seventy-nine percent of Australians surveyed say they are paying more attention to the price of products they are buying, and 40% say they appreciate when brands emphasize affordability or special deals in their ads during economic downturns.4 

  • And, in the U.S., 54% of respondents say they are struggling with their current financial situation, with a quarter indicating they’re using more coupons.1 

The survey was conducted by The Trade Desk Intelligence and market research firm Appinio. In each market, we surveyed 500 people, ages 18 to 70, to understand consumer sentiment around tariffs. 

What it means: For marketers, these perceptions matter. Rising price sensitivity can affect everything from promotional strategies to brand loyalty. As consumers grow more cautious with their wallets, brands have an opportunity to be more agile. This can involve leveraging smarter data to better connect with audiences and help reduce inefficiencies or adapting messaging to emphasize quality and durability over pure cost savings. 

Whether driven by actual price increases or the perception of rising costs, price sensitivity isn’t going unnoticed. Marketers who acknowledge both the reality of pricing pressures and consumers’ heightened awareness of potential price hikes will be better positioned to craft strategies that address these concerns and sustain engagement. 

Sources:
1. The Trade Desk Intelligence and Appinio, Wallet Watch: Economic Impact Study, U.S., May 9 – 14, 2025, n=500.
2. The Trade Desk Intelligence and Appinio, Wallet Watch: Economic Impact Study, Germany, April 25 – 30, 2025, n=500.
3. The Trade Desk Intelligence and Appinio, Wallet Watch: Economic Impact Study, U.K., April 25 – 30, 2025, U.K., n=500.
4. The Trade Desk Intelligence and Appinio, Wallet Watch: Economic Impact Study, Australia, April 25 – 30, 2025, n=500.