Retail's Super Bowl season is about to begin
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Illustration: Gabriella Turrisi/Axios
October's around the corner — and that means the playoff season in retail is about to start, with Black Friday being the Super Bowl event.
Why it matters: The final three months of the year are the most important for retailers. They compete feverishly for not only consumer wallets, but also workers.
Driving the news: Walmart on Thursday morning announced that the first of its Holiday Deals sales begin online on Oct. 8 and then in stores on Oct. 9. The promotion, which runs through the Oct. 13, comes one day earlier and is two days longer than last year.
- Earlier in the week, Amazon announced that its newish fall version of Prime Day would take place across Oct. 8 and 9.
- Target and Best Buy this week also revealed their upcoming deals days, with the former holding "Target Circle Week" from Oct. 6 through Oct. 12, and the latter spreading its promotions across several weeks.
Context: The trend of holding holiday sales in October gained strength in 2022, when inflation curbed consumer appetites for spending.
- Shopping habits have also moved more online, prompting sales to launch earlier.
- The share of e-commerce sales within overall U.S. retail sales are approaching an all-time high again, according to government data.
The big picture: Consumers, generally speaking, have continued to spend at a healthy pace throughout 2024, defying concerns that there would be a major slowdown this year.
Our thought bubble: Sales can be great for consumers looking to save, but competing and overlapping promotional periods will require them to do more homework to compare deals.
What we're watching: Seasonal hiring will likely stay at similar levels to last year, but retailers are getting more competitive on salaries.
- Walmart's Sam's Club stores will raise hourly rate to an average of "above $19," the company said this week.
- The move comes after competitor Costco reportedly moved some of its wages higher to a minimum of $19.50 an hour, and Walmart added bonuses for its workers.
- Amazon, after announcing a full return-to-office policy, said it's hiking the average total compensation for its fulfillment and transportation workers in the U.S. to over $29 per hour.
Flashback: Online holiday discounts to be bigger than last year
