Back in December, things were finally starting to look up. After more than 18 months of economic strain, consumer sentiment was lifting. A rate cut followed, and with it came a bit of cautious optimism. Australians were beginning to poke their heads out of the front gate, sniff the air, and consider stepping back into the world with some confidence.
Then came Trump’s latest tariff shock, and the mood suddenly shifted.
Tapping into our consumer panel, we asked a nationally representative group of Australians how they’re feeling in the wake of the new U.S. tariffs, and it’s far from upbeat.
· 57% already feel worse off
· Two-thirds believe the tariffs will affect their personal finances.
The usual concerns came through loud and clear: rising living costs, mortgage and rent pressure, and financial strain across households. But this time, something else stood out - older Australians, who’ve typically been more buffered from short-term economic hits, are now feeling the sting too.
People nearing retirement or living off their super are facing tough questions. Here’s some of what we heard:
“I’ve lost about $100,000 in super earnings and will probably keep working part-time until the market improves.”
“We’re self-funded retirees, and our income’s taken a serious hit. I’m dreading what’s still to come.”
“The Aussie dollar’s gone down, my investments have gone down. Not very happy at all.”
What does this mean for Brands?
Expect more comfort-seeking. More nostalgia. A return to the flavours, rituals, and brands that feel safe and familiar. Just as we were preparing to move on, many of us are now retreating - emotionally and financially.
But it’s not just about comfort. Underneath the financial pressure, there’s something else emerging - a quiet craving for connection. A fatigue with frustration and a desire for things to feel more human.
And this is where brands can really that show up - not with gimmicks and spin, but with genuine care. In a moment where wallets are tight and patience is thin, the brands that offer small, meaningful gestures will stand out.
Support over sales. Community over campaigns.
Because Australians aren’t just shopping for value - they’re searching for values.
The brands that lead with empathy, connection and real-world support? They may just be the ones that help shift the national mood from stressed to supported.
We can’t control what happens in Washington. But we can choose how we show up for each other.
A big shoutout to Paddy Wilson from T garage for leading this piece of work. We’ll be back next month with more insights.
Jed Simpfendorfer, Director Strategy & Partner, T garage.