Holiday spending for 2025 is expected to drop by 5 percent, with the downshift in spending led by Gen Z, according to a new survey by PwC. 13-to-28 year olds say they plan to spend less amid job insecurity and rising prices. Meanwhile, analysts say that while you'll still see big holiday sales like Black Friday, you might not see the deep discounts you're used to as tariffs take their toll. NBC's Vicky Nguyen joins TODAY with strategies for getting the most bang for your buck.

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