Prices for holiday gifts are going through the roof this year — and it’s thanks to President Trump’s tariffs, according to a report.
A new analysis of an annual gift guide from New York magazine shows that key holiday items this year are 26% more expensive on average versus 2024, according to Groundwork Collaborative, a nonprofit consumer advocate.
Beats Solo 4 headphones this holiday season are selling for $129.95 on Amazon — up 30% versus last year. The price of a Cooper Cooler beverage chiller, meanwhile, soared to $89.99 in November — more than triple last year’s markup of $25.52.
Elsewhere, an Instant Vortex air fryer-and-oven combo is priced at $115.78 on Amazon.com — 16% higher than last year. A Trusco ST-350 toolbox at is priced at $79.07 — an increase of 32% versus last Christmas.
“Holiday gifts are coming with sticker shock,” Groundwork Collaborative’s executive director Lindsay Owens, told The Post. “This is an extraordinary spike.”
This holiday season alone, tariffs could add as much as $28 billion to Americans’ holiday hauls or about $130 more per household, according to the study from Groundwork.
On average, shoppers are shelling out 38% more for kitchen goods, 34% more for electronics, 20% more for clothing and shoes and 17% more for toys, the study found.
The list is “representative” of top-selling holiday gifts on Amazon, including items that cost as little as $10 and as much as $500, the study said.
The historical price data was collected from archived Amazon product listings between Nov. 1 and Nov. 10 this year and in 2024, according to the nonprofit.
The report also found that 41% of shoppers said they are buying fewer gifts this year and 31% are giving fewer people gifts with lower income households, those earning less than $75,000 a year, scaling back their holiday budgets by $100.
Many of the items in the gift guide are getting hit hard by tariffs because they are made abroad, Owens said.
Microsoft cited tariffs as the reason for raising prices on its Xbox console twice this year—including a $70 hike on some consoles. Sony followed suit, hiking prices on the PlayStation 5 by $50 in response to tariffs.
A Barbie boxer doll is now priced 24% higher, or $15.99. A Monster Jam Marvel Spider-Man Monster truck is up 25% at $110. A Flybar pogo stick is up 15% at $45.84.
Groundwork Collaborative’s study on Instacart this week focused on a controversial algorithm that results in consumers being charged different prices on the same grocery items in the same supermarkets at the same exact time.
