A billboard outside the Trump Superstore west of Knoxville, Tennessee, reads “Going Out of Business” and promotes 50% off everything storewide. Inside, President Donald Trump’s shrinking fan base can now snag Trump- and America-themed hats, shirts, and other memorabilia at half-price before the owner closes up shop.
While the broader economy can’t shake inflation, deflation is hitting the world of Trump merch.
The Trump Superstore’s closing will be at least the third independent Trump-themed store closure this year, following shutterings in Bensalem, Pennsylvania, and Vernon, Connecticut. The story of the closures is the same: The demand just isn’t there anymore.
A great merch sell-off
At the Trump Organization-owned online shop, the Trump Store, visitors are greeted with a pop-up offering 10% off. And it’s slashing prices on hats in bulk: A bundle of 25 MAGA hats in colorways including red, black, pink, and camo that was previously priced at $1,365 is now $990, a more than 27% price cut. The price for a six-hat Gulf of America bundle was slashed 10%, to $270, while a four-hat neon MAGA bundle was cut 20%, to $200.
This merch sell-off makes sense, politically speaking. Trump’s merch sales have acted as a sort of material barometer of his popularity, rising when his supporters feel a sense of vindication or pride—or when he’s on the ballot. Without another election on the horizon, the term-limited, lame-duck president doesn’t have another campaign to rally his supporters behind.
There’s also a matter of saturation. More than a decade into Trump’s political career, it stands to reason that anyone in America inclined to purchase a MAGA hat has probably done so by now. On top of that, Trump is now 80 years old and has held fewer public events than he did at the same point in his first term. As the pace of his public schedule has slowed, there are fewer physical events Trump supporters need to get dressed up for.
Then there’s the glaring matter of Trump’s falling approval rating. He’s now more unpopular than ever, including among Republicans, the demographic group most likely to buy his merch. The president’s job approval fell to a new low of 33% in an Economist-YouGov poll released on August 11.
A lucrative presidency
Trump has turned branded merchandise into an unprecedented personal revenue stream for a U.S. president. His family business launched nearly 1,500 branded products after his first year back in office. This, in addition to other audacious moneymaking ventures by the president, like cryptocurrency and selling early access to his market-moving social media posts, has raised ethics concerns over Trump profiting off the presidency.
Trump made about $17 million from publishing and merchandising in 2025, according to a New York Times review. It’s a category that includes sales of items like branded Trump shoes, watches, and Bibles.
Though Trump’s publishing and merchandising revenue is just a fraction of the total $2.24 billion he brought in last year—a figure with no equivalent in U.S. presidential history—it’s a number that’s grown since 2017, the first year of Trump’s first term, when such sales generated $950,000.
Even so, the decline of the roadside Trump store signals a larger trend. As the president’s approval erodes, these shuttered stores serve as a real-world signal of changing opinion in places where he once had strong support.