If you’re eyeing up a new couch or coffee table, now is the time to seal the deal.
Wells Fargo is warning shoppers that household items — especially furniture — could become significantly more expensive in the new year as tariffs begin to bite.
The bank says consumers should consider buying home goods sooner rather than later, before higher import duties take full effect in early 2026.
Furniture prices, in particular, are expected to see ‘noticeable’ increases in the coming months.
Stores ‘have largely tried to either hold or modestly increase prices this holiday season, with many offering targeted promotions and even deeper discounts on select items,’ according to Lauren Murphy, managing director of Wells Fargo Retail Finance.
In early 2025, retailers ‘strategically front-loaded inventory purchases’ before they were hit by additional tariffs, Murphy explained to Fox Business.
Murphy warned that the duties will likely make new shipments more expensive, and retailers may pass those higher costs on to consumers in 2026.
‘Tariffs have not yet been passed across in full, so it is reasonable to expect some price increases in 2026,’ Neil Saunders, managing director at GlobalData, told The Daily Mail.
Lauren Murphy, managing director of Wells Fargo Retail Finance, warned that it might be time to stock up on household items that could become a lot pricier in the new year
A major bank has warned that it might be time to stock up on several household items that could become a lot pricier in the new year
Neil Saunders, managing director at GlobalData
Saunders continued: ‘This especially applies to home furnishings as they have been subjected to sector specific tariffs.’
‘That said, retailers will need to act with care as demand is still weak and consumers may simply shun those chains that push up prices too much,’ Saunders added.
‘Consumers should shop around for furnishings as some channels like resale and off-price will still have very sharp prices.’
Home goods retailers depend on imported products and can’t easily absorb higher tariff costs, so price increases are likely to come sooner.
Some home goods retailers have already begun quietly raising prices, Murphy said, and shoppers could start seeing higher price tags within months.
Furniture is particularly sensitive because of its high cost. Even a 10 percent increase can be enough to push buyers out of the market, Murphy explained
Other retail categories, such as clothes, are also expected to be affected — but more gradually, since lower prices soften the impact of tariffs.
While some areas have not yet felt the full impact of tariffs, many sectors have already been hit.
If you’re eyeing up a new couch or coffee table, now is the time to seal the deal.
While some areas have not yet felt the full impact of tariffs, many sectors – such as the grocery industry – have already been hit by price hikes
Food and beverage prices shot up earlier this year because, unlike furniture and apparel, shorter supply chains and shelf lives meant that such produce couldn’t be stockpiled for long.
These products are bought and restocked constantly, so new tariff costs showed up in prices faster because of the quick inventory turn over.
Everyday grocery items such as cheese, chocolate, coffee, and alcohol saw noticeable price hikes.
Kyle Peacock, founder of Peacock Tariff Consulting, told The Daily Mail in August that Americans should expect to add an extra $40 a week to their grocery bill by the end of 2025 due to tariffs.
