With Trumps’ Retail Tariffs On the Horizon: 6 Pragmatic Ideas for Retailers in the U.S. for how to adjust your sails.

“You can’t control the wind, but you can adjust your sails.”

So, as the facts are clear #uselection, let’s do what clever marketers and entrepreneurs will do: Look at the insights we have on the table and think through scenarios NOW so we don’t have to act surprised later. 💪

One of my fav’ sources for doing so is @emarketer 🙏 (I will drop the link in the comments) an excellent insights platform and a newsletter that keeps me on top of things. Like this it’s no surprise they would think things ahead and among other aspects shared this table:

So, looking at these scenarios mapped out by EMarketer, if you’re in the consumer business, your consumers will need a higher tolerance and/or willingness to pay a higher price. 😧

For the same thing they got this year for a lower price. 🤔

How can you possibly get them there?

I have consulted and worked with big and small brands in their strategic marketing for over 20 years now, and based on this, I recommend you check out these angles:

Review your positioning

🎈Go for a quality positioning, not a pricing one. The latter is nearly always a trap and you can play this game only successfully when you also can achieve economies of scale. Be deliberate – go for a clear quality positioning, it will allow for much more room to manoeuvre.

Review your collection

🎈 Curate your offerings even better and add value beyond the actual product (“we selected this for you and you can rely on this to be the best match for you”). Think “value shells” (if you’d like more info about that, email me).

Add consumer-relevant value layers

🎈 Add value on levels that do not cost your business more than they did this year – plus try to find ways to do that at less cost. This could be better in-store service or an enhanced shopping experience or leaning in into local community building so people really relate to your retail brand.

Invest on your home turf: strengthen your brand

🎈 Overall, strengthen your retail brand on each and every aspect (so it can ‘halo’ on top of whatever you offer and make people prefer to go to your place instead of somewhere else).

Make “Buy American” Your Forte

🎈 Lean into the ask for more domestic commerce. Strategically look for ‘homegrown’ brands and designers that add value to your offerings and match the overall feel of your brand (which again might mean revisiting what your retail brands stands for). Reflect on how much variety that might bring – and indeed you might be able to support upcoming fashion entrepreneurs way beyond the Kardashians.

Make it fun, relatable, attractive

🎈To make this attractive for your customers, develop a tiny mark-up that says “homegrown in the U.S. / Oregon” etc. for those products (the more relatable the better) and put it on the shelves, the packaging, provide extra ribbons 🎀. Turn the necessity into added flair. ✨

Play towards your strengths

🎈 Especially if you’re a smaller business, use your decision-making flexibility and give your offerings another fresh look and take.

So, these strategic tweaks should get you unstuck to see the opportunity behind these winds shifting. Each of them might be interesting even without the tariffs happening, but independently of their exact numbers, those approaches should provide your retail business with more space and you with the better feeling of entrepreneurial choice.

Which one(s) would you like to give a try? Who should know about these ideas?

I am looking forward to your ideas, comments, additions!