US holiday sales may be sluggish! Walmart cuts peak season hiring!

It is learned that according to foreign media Reuters, Walmart is cautious about "holiday retail" amid the slowdown in the US economy. Compared with last year, the retail giant will hire fewer employees during this year's peak season.

On September 21, Walmart spokesperson Maren Waggoner announced in a blog post that Walmart will recruit 40,000 seasonal and full-time employees during this year's peak season. Recruitment positions include seasonal store assistants, customer service assistants and 1,500 full-time truck drivers. Walmart will use this recruitment to strengthen its online business and its in-store, delivery and pickup business during the peak season.

Walmart's total peak season hiring this year is down 73% compared to last year, when the company added 150,000 permanent and full-time employees, and 20,000 supply chain workers, the report said.

Walmart's reduction in hiring suggests that this year's US holiday season may be sluggish, as inflation, higher interest rates, a tight job market and supply chain congestion are making US retailers face unprecedented challenges.

Other retailers, including Amazon, Target, Macy's and Kohl's, have yet to announce their holiday hiring plans.

According to Deloitte's annual holiday retail forecast released on September 13, U.S. holiday season retail sales are expected to increase by 4% to 6% year-on-year to $1.45 trillion to $1.47 trillion. This will be a significant slowdown compared to the 15.1% year-on-year growth in the same period last year.

In addition, data from Salesforce shows that the number of online shopping orders in the 2022 US holiday season will decrease by 5% compared to last year because online prices will jump (15%), causing people to reduce their spending budgets.

It is understood that the decline in demand for durable consumer goods is an important factor in the cold holiday season in the United States. As inflation continues to rise, consumers' spending budgets will be eroded and their purchasing power will decline.

Editor ✎ Nicole/

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