(WTNH) — The holiday shopping season is already ramping up with retailers announcing seasonal hiring plans and starting sales early.
It’s the most wonderful time of the year … to find season work for the holidays! But this year may look a little different than Christmases past.
Walmart is announcing plans this week to hire 40,000 seasonal workers, far fewer than the 150,000 it hired last year.
“First off, they already have far more permanent workers than they had during the last holiday season. And they’ve already warned that they’ve seen some signs of Americans spending less,” said Ben Winck, from Business Insider.
The country’s largest private employer, like its competitors, is facing growing pressure from historic inflation, with consumers cutting back on big-ticket purchases like electronics and TVs. This is likely because now more than ever, people need that money for necessities like food.
Many retailers are now scrambling to cut costs on the excess merchandise.
“Inflation is going to have a major impact on the way that people shop. When you have a smaller amount of money that you’re dealing with, you want that dollar to go further,” said Hitha Herzog, a retail analyst and financial expert.
Even the shipping giant FedEx is warning people of a worldwide recession, signaling its plans to cut costs ahead/
Amid the uncertainty, a retail scramble is underway among competing stores to get your attention.
Target announced its deal days which will kick off on October 6 and extend price matching from then until December 24. Kohl’s will hold its second seasonal hiring event on October 13 to fill both part-time and full-time positions.
Retailers hope these early sales will mean they can move inventory and start with a clean slate in January 2023.