Target and Walmart to start holiday sales earlier this year
Target and Walmart plan to start the discount season a little earlier this year to help Americans under pressure rapidly rising inflation. Plus, it's a way to ease the potential pressure from holiday shopping. Read more about this publication Kare11.
Inflation, which has reached a 40-year high, could push families to start shopping earlier in the hope of avoiding further price hikes, experts say.
AlixPartners, a global consulting firm, forecasts holiday sales to grow between 4% and 7%, well below last year's 16% growth. The current inflation rate of 8,3% means that retailers will see a decline in real sales.
Target is poised to start its annual holiday between October 6 and 8, a few days earlier than a year ago, and match prices a couple of days earlier as well.
Price matching, referred to as a price guarantee, is a policy set by some retailers. It provides that if you find the same product at a lower price, they will offer the same or even lower.
Target has one of the most generous price comparison deals in retail. This also applies to purchases on the Target website.
“Throughout the season, guests will discover new items for gifting and holiday preparation, including Target brands and national brands. They can count on great deals and low prices every day,” said Christina Hennington, Target executive vice president and chief development officer.
According to Tom Ward, director of e-commerce for the company, Walmart is offering a wider range of products this year, including more new brands and Walmart exclusives, than a year ago. The company is deepening discounts on products such as toys, household goods, electronics and cosmetics. More than half of the toys on Walmart's list of upcoming holiday toys are under $50, and many are even under $25, and almost all of the toys are available for purchase now or through pre-order on Walmart's website.
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Walmart, the nation's largest retailer headquartered in Bentonville, Arkansas, is also extending its return window by more than a month. Gift returns will now be accepted from October 1st to January 31st, while last year it was from November 1st to January 24th.
In terms of holiday staffing, Target plans to hire up to 100 seasonal employees at stores and distribution centers this holiday season, as it did a year ago.
Walmart is taking a more cautious approach to hiring in 2022. He said this week he would hire 40 workers for the holidays, most of which would be seasonal.
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