In the first week of October, the two major US giants started holiday season promotions! What’s different this year?

It is learned that on September 22, local time, Walmart announced that it will launch a holiday return plan on October 1, allowing buyers to pick up and return goods in its stores. At the same time, Target announced that it will hold its first holiday season promotion from October 6 to October 8.

With the two largest retailers announcing early promotions, the first shots of the U.S. holiday season have officially been fired, and some smaller competitors will also launch promotions one after another. At the same time, U.S. retailers will also face a more difficult holiday shopping season than last year.

How consumer holiday shopping has changed compared to last year

With Americans dealing with high inflation and increased spending on food, fuel and housing for much of 2022, retailers will also roll out their holiday deals earlier than usual to attract more cautious consumers.

In anticipation of slower sales growth, retailers plan to cater to consumers who want more bargains and longer shopping time so they don't have to spend their entire holiday budget in one month.

Last year, consumers spent their holiday shopping dollars earlier, largely because they worried about supply chain disruptions, which extended shipping times and made goods unavailable.

This year, analysts and retailers expect consumers to shop early in the season as well, but because of inflation, they will spend more time and effort planning their shopping budgets rather than spending them in the week or two before the holiday rush.

How retailers' holiday season hiring has changed compared to last year

Retailers' holiday season sales plans have shifted as their main concern shifts from the coronavirus pandemic to inflation.

Walmart cut its holiday season hiring this year, planning to hire only 40,000 workers, compared with last year's target of 150,000. One guess is that Walmart lowered its sales forecast because consumer spending is falling due to inflation.

Another reason could be that Walmart hired a large number of employees in its warehouses during the holiday season last year, and most of them are still working at Walmart. A Walmart spokesperson also said: "Walmart's staffing for this holiday season is stronger than last year."

Target has maintained steady hiring plans, planning to hire up to 100,000 workers for the holiday shopping season, in line with last year's plans but below hiring for the 2019 and 2020 holiday seasons.

Amazon has not disclosed its hiring plans for this holiday season, but said earlier this year that it was hiring too many workers in its warehouses.

Worker absences due to infection have eased as people begin to emerge from pandemic-era restrictions, but retailers, like many industries, continue to deal with a tight labor market. As strike action intensifies, existing workers are being offered significantly higher starting salaries and benefits, as well as more flexible hours and shifts.

Editor✎ Ashley/

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