More than two in five Australians (42%) say they will stop buying US products and services because of the tariff war, according to Kantar’s latest Consumer Sentiment Barometer.
And more than half (53%) say they will buy more local products and services.
The barometer data also shows significant shifts in buying behaviour.
Australians are cutting back on big ticket items like cars and overseas holidays, shifting their expenditure and saving more as they continue to grapple with the high cost-of-living.
But they are still spending, redirecting dollars to small indulgences. They want to still have a nice time but spend their money more locally.
And while it is easier to anticipate cutbacks to happen on big ticket items, even day-to-day items are feeling the heat, including fast food and takeaways (41%t), new clothes (39%), streaming services (37%) and a few drinks in a bar (38%).
“In this poly-crisis world, people are uncertain – and genuinely so,” said Mark Kennedy, Kantar Australia’s managing partner – consulting.
“When ‘enshitification’ was announced as the Macquarie Dictionary word of the year in 2024, it wasn’t hard to figure out that Australians were feeling a little over it.
“Add tariffs to an already tumultuous world and it’s important to understand public sentiment and how this is impacting people’s behaviour, what’s changing, what’s staying the same and where opportunity lies.”
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