Black Friday is one of the biggest shopping days of the year.

But amid concerns about the economy , persistent inflation and President Donald Trump 's latest wave of tariff hikes, shoppers may not be as eager to splurge this season.

Consumers plan to spend an average of $622 between Nov. 27 and Dec. 1, down 4% from last year, according to a new Deloitte survey released Monday. The overall belt-tightening was largely due to a higher cost of living and financial constraints, Deloitte found.

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