- Alongside other retailers offering early holiday deals, Walmart is hosting its “Rollbacks and More” October savings event from Oct. 10 to Oct. 13, the retailer said in an email to Retail Dive.
- The retailer is offering discounts on electronics, home goods, toys, clothing and accessories and other items, according to the announcement.
- Walmart is offering discounts on brands such as Hot Wheels, Barbie, Lego and Apple.
Retailers are offering early holiday deals to incentivize shoppers to make their holiday purchases well before Black Friday or Cyber Monday. Like Walmart, other retailers like Kohl’s, Amazon and Target have rolled out their holiday shopping deals in October.
While Amazon is launching a two-day holiday sale to Prime members Oct. 11-12, Target has its holiday deals Oct. 6-8 and is offering shoppers a price match guarantee. Similar to Walmart, Kohl’s is also offering discounts on some Barbie and Lego products.
Besides announcing holiday deals early, Walmart has also begun staffing up its stores and improving its return policy ahead of the holidays. Last month, the retailer said they planned to hire 40,000 additional associates for the holidays, far fewer than the 150,000 employees the retail giant hired for the season in 2021. The company also said it will offer shoppers “no concern” return options and an extended period for returns.
The early rollout of holiday discounts comes as consumers face inflation pressures. Per a recent Bankrate survey, while half of the consumers plan to start their holiday shopping by Halloween, 40% say that inflation will influence their purchasing choices. Another survey from Morning Consult released in August found that 85% of U.S. consumers said inflation had driven their shopping decisions, and 79% were searching for discounts.
Major retailers like Walmart are feeling the pressures of inflation, too. In its Q2 earnings report, the retailer said its net sales rose by 7.1% to $105.1 billion, but its operating income dropped by 6.7%, a decline that the company’s executives attributed to lower operating profits and margins on markdowns and more grocery products and its sales mix. During a Q2 earnings call, Walmart CEO Doug McMillon said the retailer anticipates inflation continuing to drive consumer shopping choices, and the retailer is adjusting to meet their needs.