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OverviewAPI
Retailers are cautious about the upcoming holiday shopping season, with subdued forecasts and concerns about consumer spending. Major retailers like Lowe's, Best Buy, and Kohl's have reduced sales and outlooks, influenced by factors like interest rates, inflation, and student loan repayments. Despite discounts, holiday sales are expected to rise at a slow pace, with a shift in focus to essentials. The eCommerce sales have seen a modest increase, but concerns about consumer spending and debt are impacting the overall retail spending.