Retailers are gearing up for the holiday season, with a focus on hiring seasonal workers to meet the demands of both in-store and online shopping. Amazon, a major player in e-commerce, plans to hire 250,000 full, part-time, and seasonal employees for the upcoming shopping period. This aligns with similar hiring strategies from other top retailers like Bath & Body Works and Target, who are also maintaining their hiring numbers from last year.
While some retailers like Kohl’s and Walmart are more reserved in their hiring plans, Macy’s has announced a slight reduction in seasonal positions compared to the previous year. The overall demand for seasonal workers comes at a time when the U.S. job market is being closely monitored for signs of a slowdown, following a period of rapid economic recovery post-COVID-19 lockdowns.
The holiday shopping season is crucial for retailers, with early discount events already being announced to attract consumers. Forecasts from consulting firms like Deloitte and EY-Parthenon predict a moderate increase in retail sales during the holiday period, driven in part by online sales which are expected to reach record levels.
Despite optimism among retailers for a strong holiday season, challenges in filling job openings may arise due to job demands and pay issues. To address this, companies are holding nationwide hiring events to attract talent, with a focus on rehiring former employees and offering on-the-spot interviews.
On the consumer side, spending patterns show resilience but also signs of stress, with rising credit-card debt and falling savings rates potentially impacting future spending. Retail sales have seen fluctuations, with consumers becoming more selective in their purchases and seeking out deals to combat high prices.
However, the ongoing port workers’ strike could further impact prices and product availability for holiday shoppers if it persists for an extended period. Overall, the retail industry is navigating a complex landscape as it prepares for the holiday season amidst evolving economic conditions and consumer behaviors.
