These big NJ retailers say price hikes are very likely

As the summer season approaches in New Jersey, one unfortunate thing is on everyone's minds. How expensive are things going to get?

It's a question that probably most ask every summer, and it makes sense. Will gas prices see a spike? Will a natural disaster affect my plans? And will that natural disaster have a negative ripple effect on local costs?

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Retailers are also asking the same questions. Will they be forced to raise prices? In most situations, nobody wants to do this. But sometimes, it's unavoidable. And for major retailers in New Jersey, those price hikes seem all but certain.

Tariff uncertainty is one of the biggest drivers of this fear that retailers are citing in 2025. With the summer season right around the corner, so are the shipments from non-U.S. countries with higher tariffs.

Walmart is the latest company stating that price hikes are likely, saying tariff rates are simply too high. According to cnn.com, Walmart will have to "raise prices on some items as Trump’s global trade war increases the company’s costs."

And with so many Walmart locations in New Jersey, it's likely those in the Garden State - both residing and visiting, will also feel the pinch.

Walmart is arguably one of the biggest retailers in New Jersey that may have to hike their prices, but they're not the only ones. Several others also announced this possibility leading up to the summer season.

More NJ retailers that may raise prices

According to abc.com, electronics giant Best Buy also says they may be forced to raise prices. Even with tariffs at 10%, prices for consumers may need to go up further to offset the costs to the retailer.

Auto parts chain AutoZone, another large retailer in New Jersey, also said they may raise prices as a direct result of tariffs, stating that they would be passing those costs down to the customer.

Those are just a few of the large chains that announced potential price hikes as a direct result of tariffs. But we can't dismiss the other type of New Jersey retailer that might also be affected

NJ small businesses

Probably the hardest ones to absorb the punch of rising costs are New Jersey's great small businesses. Especially those that rely on parts or products that come from outside our country.

With that said, this might perhaps also benefit some of our small businesses if most of what they offer doesn't come from outside the region. Only time will tell.

Either way, New Jersey's businesses as a whole are beginning to brace for impact, and you should too. Regardless if your favorite place to shop is a small business or a national chain, be ready to dig a little deeper for items you need.

The above post reflects the thoughts and observations of New Jersey 101.5 Sunday morning host & content contributor Mike Brant. Any opinions expressed are his own.