Target is planning to hire nearly 100,000 people for the upcoming holiday season, maintaining a trend from the past two years.
The retailer is also kickstarting its holiday promotions as early as October.
This decision comes amid predictions of slower growth in the crucial holiday sales period in the US compared to the previous year.
Factors like rising prices impacting consumer spending and concerns about an impending recession contribute to these projections.
Career consultancy firm Challenger, Gray & Christmas report highlighted a combination of reduced consumer spending and higher labor costs could lead to US retailers hiring the lowest number of seasonal workers this year since 2008.
Amazon has announced a hiring spree to add 250,000 workers for the holiday season.
It’s a substantial increase from the 150,000 hired last year.
Walmart has not yet disclosed its hiring plans for the year.
However, in 2022, the big-box retailer announced 40,000 new jobs to fill seasonal and full-time roles.
Jessica Ramirez, a senior analyst at Jane Hali and Associates, said Target’s holiday hiring numbers have been the same.
It’s because “retailers who have been facing tough (inventory theft) shrink issues” have been hiring partly to control the situation.
Several major retailers, including Target, have warned of potential profit losses due to inventory theft.
To attract holiday shoppers, the retailer has offered items priced under $25 across various categories, such as apparel, home goods, and daily essentials.
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Additionally, the firm plans to launch a “Deal of the Day” program in October.
It’ll align with similar shopping events by retail giants like Amazon and Best Buy.
Sarah Henry, managing director and portfolio manager at Logan Capital Management, said Target only has “a small window of opportunity around the holidays” to get discretionary sales.
Henry added: “So staffing up will be critical for them to continue to manage” through the difficult spending environment.”