As economic uncertainty continues to weigh on consumers, holiday sales in the United States are expected to grow at their slowest rate since the pandemic.
Consumers are starting to feel the pinch of higher prices when back-to-school shopping, and many expect to make changes to their holiday spending plans.
A majority of back-to-school and back-to-college shoppers are planning to spend the same amount or more than last year, even in the face of newly-implemented tariffs on imported goods.
Looming tariffs that are expected to impact the prices of daily essentials have consumers less confident in their finances than they were at the start of the year.