Though Trump did as he promised, many banking customers are on edge.

Levi’s delivers downbeat outlook as uncertainty roils retail industry: The company expects potential tariffs, FX headwinds, and higher taxes to weigh on its 2025 performance.

China manufacturing activity contracts ahead of Lunar New Year: While the blip may stem from holiday closures, it’s a worrying sign as the threat of tariffs looms large.

Shein stumbles under UK regulators’ scrutiny: The ecommerce platform failed to relieve concerns about forced labor in its supply chain as it prepares for a more challenging operating environment.

Almost one-third (31%) of US consumers would prioritize spending on essential items this year if a trade war or tariffs increased the price of products they regularly purchase, according to a January survey from First Insight.

With the holiday season in the rearview mirror, our analysts are already looking ahead to what the rest of this year—including the 2025 holiday season—will look like. This year will be defined by unpredictability, as President Trump begins his second term during a time of mixed consumer sentiments. Here are four trends our analysts expect will continue in 2025.

President-elect Donald Trump's second term promises profound shifts across commerce, technology, and regulation that will reshape how businesses operate and consumers behave. As the president-elect prepares to take office, his policy priorities are already triggering market reactions and pivots from major corporations.

Solid December sales cap a year of healthy retail growth: But 2025 could be a different story, as tariff concerns keep all but the wealthiest consumers from spending freely.

Logistics and the supply chain will take center stage this year: While a port strike may be off the table, rising costs and geopolitical tensions will force retailers to make hard choices.

Tariffs will upend the status quo: Retailers need to brace themselves for a new era of protectionist trade policies that drive up costs and eat into consumers’ spending power.

Retailers ended 2024 on a high: Holiday ecommerce sales surged by nearly 9% YoY as steep discounts and tariff fears spurred spending.

India’s government considers new subsidies, reduced tariffs to boost local production: The measures will make the country more attractive to manufacturers looking for China alternatives.

Latin America’s digital economy will undergo significant changes in 2025 as retail innovation and regulatory changes redefine business dynamics for global and local players alike.

The auto industry ended 2024 on a high: Sales accelerated in Q4 as consumers rushed to take advantage of EV tax credits and avoid tariffs.

China’s economy faces more gloom in 2025: Sluggish consumer spending and a potential trade war will weigh on growth.

The economy is looking good as the calendar turns to 2025: Consumers are in a good position to spend, but the new administration’s policies could change that trajectory.

November retail sales surge past expectations: Shoppers shifted their spending up a gear amid a flurry of deals and concerns over tariff-related price hikes.

In response to rising costs, retail in 2024 was dominated by consumers’ desire for deals and discounts. And as President-elect Donald Trump’s proposed tariffs will raise some prices even higher in 2025, consumers may turn to in-person shopping to control their spending.

On today’s podcast episode, we discuss if AI development is slowing down or speeding up, when it’s all said and done what happens to TikTok, if live sports are under threat from highlights, the potential impact of impending tariffs, which sports kids play the most, and more. Tune in to the discussion with Senior Director of Podcasts and host Marcus Johnson, Senior Director of Forecasts Oscar Orozco, Principal Forecasting Writer Ethan Cramer-Flood, and Senior Forecasting Analyst Zach Goldner.