Get Ready for the Start of Retail’s Playoff Season: Black Friday and More Deals Ahead

As October approaches, the retail industry gears up for the highly anticipated playoff season, with Black Friday being the Super Bowl event. The final three months of the year are crucial for retailers as they compete fiercely for consumer wallets and workers.

Walmart recently announced that its Holiday Deals sales will kick off online on Oct. 8 and in stores on Oct. 9, running through Oct. 13. This promotion is starting one day earlier and lasting two days longer than last year. Amazon also revealed that its fall version of Prime Day will take place on Oct. 8 and 9, while Target and Best Buy have announced their upcoming deals days as well.

The trend of holding holiday sales in October gained momentum in 2022 due to inflation curbing consumer spending appetites and the increasing shift towards online shopping. E-commerce sales are approaching an all-time high within overall U.S. retail sales.

Despite concerns of a major slowdown, consumers have continued to spend at a healthy pace throughout 2024. However, competing and overlapping promotional periods will require consumers to do more homework to compare deals.

In terms of seasonal hiring, retailers are expected to maintain similar levels to last year, but they are becoming more competitive on salaries. Walmart’s Sam’s Club stores will raise hourly rates to an average of above $19, following moves by Costco to increase wages to a minimum of $19.50 an hour and Walmart adding bonuses for its workers. Amazon is also hiking the average total compensation for its fulfillment and transportation workers in the U.S. to over $29 per hour.

Overall, the retail industry is gearing up for a competitive and exciting holiday season, with retailers vying for consumer attention and loyalty through enticing deals and competitive salaries for workers.