US shoppers are cutting back on spending and sentiment is sliding as President Donald Trump’s tariffs and market volatility threaten to undermine one of the key drivers of the world’s largest economy.
Many retailers reported solid sales at the end of last year, but warned of slower growth in 2025, and industry data shows that their forecasts are already playing out.
Footfall to US stores fell by 4.3 per cent year on year in early March, according to RetailNext, a consultancy — extending declines that began at the start of the year. Placer.ai, which aggregates signals from consumers’ mobile devices, has recorded fewer visits to big-box stores including Walmart, Target and Best Buy in recent weeks.
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