the tariffs are coming! the tariffs are coming!

and how I plan to avoid the rising cost they will bring

If you’re thinking of bypassing the rise in clothing costs from potential Trump administration tariffs by shopping secondhand, I would think again. Fashion is already bracing for the increase in fashion costs, with brands like Steve Madden aiming to cut their imports from China by 40% to 45% over the next year in response. Colombia is ready to raise prices, with the CEO stating that it will be hard to keep prices affordable if they are enacted. 

The proposed blanket 10% to 20% tariffs on imported goods and an additional 60% to 100% on goods made in China, where most of our clothes are produced, would cause consumers to lose between $46 billion and $78 billion in spending power annually, according to the National Retail Federation, and cost consumers $13.9 billion to $24 billion more for apparel. 

With so little spending power and rising clothing costs, many consumers will flock to the secondhand market for relief. However, with the potential for more demand, prices will also increase there. Over the last few years, thrift store prices have risen, not because of resellers but because of higher demand, with consumers looking for more sustainable shopping options coupled with less supply due to fewer donations because of the rise of other selling options. If more people flock to thrift stores, I can see them raising prices as the demand grows. 

Given that rising clothing costs will be difficult to avoid, this would be a great time to check your consumption and get your spending in order. Today, I’m sharing what I’ll be doing to soften the blow from a potential rise in secondhand fashion costs.

And it includes a bit of pre tariff shopping!

• I’ll will be filling any gaps in my closet before the end of the year. To entice people to shop like the good times are ending because they likely will be, stores will probably give deeper discounts this holiday shopping season. I got an offer from BR Factory with 50% off sale items and an additional 20% if I use my BR card. While I’m not encouraging you to shop if you don’t need to, if there’s something you’re looking at to fill a hole in your wardrobe, had your eye on, or want to stock up on, now would be the time to do it, in case prices increase next year.

• I’ll be leaning more heavily on my cobbler and tailor. I use three based on what I need to get fixed and mending or altering your clothes instead of buying new ones is cheaper and will become far more commonplace over the next few years. Depending on what needs to be done, you can mend one or two pieces for the price of buying one new or completely rework a piece. Everyone should invest in a good cobbler and tailor, regardless of the economy, and if you don’t have one now, get one ASAP. Time will tell if prices will increase there.

• I’ll be investing more time in caring for my clothes at home. I do a fair amount of this already, but I’ll be doing a lot more to ensure the longevity of my pieces. From taking sewing classes to learning basic skills and investing in tools - good laundry detergent, mini sewing kits, home dry-cleaning kit, etc.- this will encourage me to care for my things rather than buy new ones and only use professionals when needed.

• I will be upgrading my closet organization app to get more benefits from it as I work to slow my spending. The ability to shop my closet from the palm of my hand has been a game changer for my personal style and wallet. It’s helped me realize that I don’t need more stuff, just new ways to wear the things I have and giving me so much more clarity with how I shop. I use Indyx, but other apps out there do the same. I use their free version but had the chance to use the paid one for 30 days and it gave me so much more data that was really helpful making the $9.99 per month investment is will be worth it to me. This is a great tool to have to scratch that shopping itch.

• I’m going to look at what I spending on clothes and refine my budget. I have a budget of $80 per month for clothing purchases or care, and right now, that’s more than enough to pick up something new to me, take something to be mended, or drop something off at the cleaners, but I’ll be taking the next month to be sure and making adjustments. The days of mindless spending may soon be a distant memory, so I’m preparing now. I don’t have any plans to stop buying things here and there unless it becomes absolutely necessary.

• Warren Buffet is hoarding 325 billion dollars in cash and is rumored to be sitting on it until a recession causes the markets to crash so he can buy up stocks and property cheaply. I’ll be taking that same mindset and applying it to my clothing budget. I do this a few times a year anyway, but I’m going through my closet, sell anything I don’t want, and save the cash for when I see something I want my $80 budget won’t cover.

Now I’m not naïve that this will keep me avoiding any blow back at all, but I definitely think this will soften the blow.

Shanna