Admin September 24, 2024
It’s only September, but retailers are already thinking about the holiday shopping season. Stores like Walmart have already announced their earliest holiday deals, while Macy’s has announced it plans to hire nearly 32,000 seasonal workers this year.
“I was just on the websites now and like Target has Christmas up at the bottom already. Walmart is highlighting their toy shop,” said Jessica Ramírez, a retail analyst at Jane Hali and Associates.
Ramírez said retailers have started holiday marketing earlier because they’re nervous. Shoppers are still adjusting to inflation and have more debt this year.
“There are still a lot of macro factors that are squeezing the consumers’ budget,” Ramírez said.
Thanksgiving is also later in the year in 2024, which shortens the traditional shopping season.
That doesn’t mean every brand will put everything on sale. David Swartz, a retail analyst at Morningstar, said Ralph Lauren and Coach can hold prices, while retailers like Macy’s will need to offer deals.
“The only way they can get people to shop there at all is by just offering them constant discounts,” Swartz said.
That split in sales strategy reflects how retail is doing in general: there’s money to pocket from higher end shoppers and deal hunters but little in between.
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