According to analysts back-to-school shopping could be more costly for Canadians due to U.S. President Donald Trump\u2019s tariffs. CTV’s Abigail Bimman explains. <\/p>\n
Retail experts expect back-to-school shopping to be hit by tariff costs, but the picture is complicated.<\/p>\n
Expect to see items that come through the U.S., such as electronics and clothes, to see big increases in prices, especially goods from Southeast Asia, due to President Donald Trump\u2019s tariffs, according to retail analyst Bruce Winder.<\/p>\n
\u201cTariffs are certainly having an impact on back-to-school shopping in a way that\u2019s a bit unique,\u201d Winder told CTV News.<\/p>\n
Many sellers loaded up on inventory in anticipation of tariffs, and those sticker prices aren\u2019t likely to climb higher.<\/p>\n
But Winder says some big brands in Canada may up their prices here to match an increase in the U.S. \u2014 a process known as harmonizing prices that leaves customers in both countries paying more.<\/p>\n
\u201cI think you\u2019re going to see a little bit of inflation across the board everywhere,\u201d said Winder.<\/p>\n
Another factor? Some brands potentially taking advantage of customer tariff psychology to raise prices.<\/p>\n
\u201cThey did that during the pandemic, they sort of realized the consumer was in the mindset that prices would increase, and they snuck up prices a little bit,\u201d Winder said.<\/p>\n
His best advice is to shop around and check all the deals and sales in advance \u2014 doing your homework before your kids are assigned any at school.<\/p>\n
If the impact of tariffs is uncertain, certified financial planner Adam Chapman says parents should control what they can: \u201cbuy the things your kid needs and stop there.\u201d<\/p>\n
Chapman says parents are, perhaps unknowingly, using the tariffs to justify \u201cturning wants into needs.\u201d<\/p>\n
\u201cOne of the best things that most parents can do is\u2026 wait until your kids actually arrive in the classroom and you actually know what\u2019s actually needed,\u201d he told CTV News.<\/p>\n