NORFOLK — Retail Alliance announced a recent survey it conducted reveals that most Hampton Roads retailers are experiencing direct and significant challenges due to newly imposed tariffs on imported goods and components, particularly those sourced from China.
Retail Alliance, an association that provides advocacy, benefits, and education to retailers, said the data reflects an industry under pressure, with cost increases, disrupted sourcing and growing concern over financial stability.
According to Retail Alliance, of the 48 micro and small retailers surveyed:
- 63% reported increased costs, with 38% calling them significant and 15% facing sourcing disruptions or delays. Only 13% report that they have not been impacted.
- 33% said more than half of their products or materials originate from or pass through China.
- 67% are raising prices, while over 40% are actively changing suppliers or sourcing methods.
- Over one in two businesses are delaying investments or purchases.
- More than 50% expressed moderate to severe concern about their financial outlook in the next 6–12 months.
“The survey results are a sobering reminder that tariffs don’t just affect multinational corporations, they hit Main Street retailers hardest,” said Jenny Crittenden, President and CEO of Retail Alliance. “Independent businesses cannot continue to absorb these increased costs to keep prices level set for customers. Margins are already thin in the small retail world. If they do, it will come at the cost of jobs, reinvestment, and growth. Without swift policy clarity or relief, we risk losing the small businesses that form the backbone and unique identity of our communities.”
According to the association, respondents shared detailed stories of navigating daily pricing volatility, delayed product shipments, and difficult decisions such as shrinking product sizes or cutting seasonal inventory, with one retailer describing tariffs as a “self-inflicted wound” on top of existing challenges like labor shortages and rising insurance premiums. Others noted supply chain uncertainty had left them unable to provide quotes to customers or invest in future inventory.
Retail Alliance said it is using the data to inform its advocacy work at the local and state level, and to work with the National Retail Federation to raise awareness among policymakers about the local economic ripple effects of international trade decisions.
