DENVER -- Could today be the last great Cyber Monday? For that matter -- could this holiday season be the last one in which consumers see huge savings?
No one is suggesting stores will stop offering discounts but President Trump's tariffs could impact prices come next year.
"It may be a very different year next year just in terms of prices people are having to pay," Dr. Mac Clouse, a Professor of Finance at the University of Denver, said.
That's because in September President Trump instituted a 10% tariff on some products imported from China. They range from bikes and perfumes to handbags and wallets. This holiday season hasn't been impacted because stores already had their products but in 2019 the changes will be in full effect.
Now there is talk of even bigger tariffs taking effect in January. President Trump suggested to the Wall Street Journal Monday he could still see himself implementing a 25% tariff come January. Iphones and Ipads could also be impacted .
"If you can afford it on some of those big items I would go ahead and buy it now before these tariffs take hold," Dr. Clouse added .
Retailers in Denver are also stressing changes may be coming.
"Obviously there is going to be a price increase" Rudy Garcia, Owner of Colorado Appliance Solutions, said.
But Garcia seemed to suggest it wouldn't be so high that customers couldn't afford products.
"Do I think it is going to be hundreds of dollars and become affordable for most people I don't see that happening," Garcia added.
Garcia says as a result he sees opportunity to focus his company more on repairs since he believes customers may be interested in fixing old products as opposed to buying new ones.AlertMe