Since Trump’s election in November 2024, 37% of Americans have stockpiled items, driven by fears of rising prices due to tariffs. Nearly half have made large purchases, though economic uncertainty looms, leading many to anticipate worsening credit card debt and engage in “doom spending.”
- 1 in 5 Americans are engaging in "doom spending" amid economic uncertainty.
- 37% of Americans have stockpiled items since November 2024, with 14% planning to start soon.
- Nearly half of Americans (48%) have made large purchases over $500 since November 2024.
- 28% of Americans anticipate worsening credit card debt this year.
- Fear of rising prices is a significant factor influencing consumer behavior across demographics.
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President Trump campaigned on imposing tariffs, a strategy many believe will increase prices. Since his election in November 2024, Trump has persistently pursued this tariff agenda. Most recently, in April, he unveiled tariff plans that caused the stock market to plunge and revived concerns of a possible recession.
CreditCards.com conducted a survey of 1,000 U.S. adults in April to gauge how their spending behaviors have evolved since Trump’s election and how worries about rising prices impact their financial choices. This report follows surveys done in February and December.
Key findings:
- 1 in 5 Americans are doom spending.
- 37% of Americans have stockpiled items since November 2024, with an additional 14% planning to start stockpiling soon.
- 48% of Americans have made significant purchases since November 2024.
- Most Americans who have stockpiled or made large purchases cite concerns about rising prices, although Trump voters were less likely to indicate this than Harris voters.
- More than half of Americans plan to spend unusually in April 2025, reflecting uncertainty about the future.
- 30% of Americans anticipate entering or worsening credit card debt this year.
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Nearly Half of Americans Have Been or Will Start Stockpiling Goods
Since November 2024, 37% of Americans report having stockpiled items, with an additional 14% planning to do so soon. Stockpiling is more prevalent among Kamala Harris voters (44%) compared to Trump voters (31%).
The most commonly stockpiled items include food (74%), personal care products (60%), toilet paper (48%), water (47%), and household goods (43%). Some have stockpiled medical supplies (39%), over-the-counter medications (26%), and firearms or ammunition (13%).
Among those who stockpiled, 80% report that concerns over rising prices influenced their actions — either significantly (51%) or somewhat (28%). This worry is notably higher among Harris voters (82%) than Trump voters (72%).
“Concerns about rising prices motivate many individuals to stockpile various items, from toilet paper to electronics,” states John Egan, personal finance expert at CreditCards.com. “While it may be prudent to stockpile certain essentials to avoid tariffs, ensure you only purchase what you need and will use. Otherwise, you risk overspending.”
Nearly Half of Americans Have Made a Large Purchase Since November 2024
Nearly half (48%) of Americans have made a significant purchase exceeding $500 since November 2024, including 47% of Harris voters and 51% of Trump voters.
The most frequent purchases have included electronics (22%) and home improvement materials (18%). Other common purchases consist of home appliances (14%), cars (12%), furniture (12%), and homes (4%).
Concerns about rising prices significantly influenced many purchases — 36% indicated it was a major factor and 22% said it was a minor influence. This tendency is more pronounced among Harris voters (67%) compared to Trump voters (51%).
Spending Habits Shift in April, and Many Will Worsen Credit Card Debt
In April 2025, over half of Americans plan to alter their spending: 15% intend to spend significantly more (4%) or slightly more (11%), while 41% aim to spend slightly less (22%) or significantly less (19%). Meanwhile, 45% anticipate their spending will remain the same.
Almost 30% (28%) of Americans express they are likely to accrue or exacerbate credit card debt this year, with 9% claiming it’s very likely and 19% saying it’s somewhat likely.
1 in 5 Americans are doom spending
Some Americans are also participating in “doom spending” — spending driven by anxiety, fear, or pessimism about the future. Approximately 5% of Americans definitively label their recent spending as doom spending, 13% probably would, and 19% are uncertain. This statistic remains consistent with our findings in the February 2025 report. Doom spending is nearly twice as prevalent among Harris voters (26%) compared to Trump voters (14%).
“Economic uncertainty often leads people to cut back on spending. Yet, amidst the threat of tariffs on U.S. imports, some individuals might stockpile, make significant purchases, or engage in ‘doom spending,’” Egan notes. “Unfortunately, these actions can lead to increasing credit card debt. Ideally, using cash for purchases in such situations, while saving as much as possible, is advisable.”
Methodology
The Consumer Sentiment Post Trade War Poll was executed by YouGov, utilizing a nationally representative sample of 1,000 U.S. adults interviewed online from April 11 to April 14, 2025. The adjusted margin of error for the overall sample is approximately 3.57%.
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