DEVELOPING: Holiday Shopping Plans in Jeopardy as Consumer Spending Habits Shift Overnight

BREAKING NEWS Holiday Shopping Plans in Jeopardy as Consumer Spending Habits Shift Overnight A sudden shift in consumer spending habits has put holiday shopping plans at risk, with many Americans rethinking their gift-giving strategies. According to a recent survey by NPR, 60% of respondents plan to reduce their holiday spending this year. The survey, conducted on October 8, revealed that rising costs of living and slowing job markets are forcing consumers to tighten their belts. With new tariffs and inflationary pressures taking hold, many Americans are opting for more frugal approaches to the holiday season. Background context shows a growing trend of belt-tightening among consumers, with NPR's survey echoing similar findings from other recent studies. The shift in spending habits is expected to have significant impacts on retailers and small businesses that rely heavily on holiday sales. As the holiday shopping season approaches, it remains to be seen how this sudden change in consumer behavior will affect the economy. Retailers are already bracing for a potential downturn, with some industry experts warning of a "holiday hangover" due to reduced spending. This is a developing story, and we will continue to provide updates as more information becomes available. *This is a developing story. Updates will be provided as more information becomes available. Based on reporting from Npr.*