Sonia Lapinsky Fashion Retail Leader, tells CBS news that consumers are pulling back on holiday spending this year, holding on to their dollars and putting their money in critical places, not in discretionary buckets

Rising U.S. import tariffs are forcing many retailers to slash or skip their usual deep Black Friday discounts, as higher costs squeeze profit margins. Small business owners—like one who typically offers 15% off—are now debating whether they can afford any promo at all. AlixPartners’ Sonia Lapinsky warns that reduced consumer spending and tighter margins could make this holiday season “strange,” since retailers may struggle to drive shoppers in without strong deals.

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