The holiday season is just around the corner, and this year, it's shaping up to look a little different.

eMarketer, forecasts that US retail sales for November and December will grow just 1.2% year over year. That marks a noticeable slowdown from previous years and even falls behind the 1.5% full-year growth rate. Several factors are driving this shift: increased tariffs, lingering inflation, and a more cautious consumer mindset heading into Q4.