Target ramping up hiring and holiday deals earlier to combat inflation
September 23, 2022
MINNEAPOLIS (KFGO/WCCO) – Minneapolis-based Target Corporation has announced their plans heading into the holidays.
The retailer says they expect to hire 100,000 seasonal workers this year, the same number as last year.
Those hires will only happen after existing employees are given a chance to claim their holiday shifts. Starting wages will be between $15 and $24 an hour across the country.
The company also announced they’ll begin special Deal Day promotions and price matching in early October.
“The holidays are a treasured time when our guests come together with family and friends to celebrate the joy of the season, and we’re here to make that as easy as possible for them to enjoy,” says Christina Hennington, executive vice president and chief growth officer, Target.
Walmart and Target plan to begin offering deals and price matching offers earlier this year to keep up with Americans pressed by soaring inflation and looking for ways to take the sting out of holiday shopping.
Inflation that is hovering near four-decade highs, experts believe, could push families to get an earlier start on shopping with hopes of avoiding even higher prices later.
The early marketing plans, announced on Thursday, come as forecasts point to slower holiday sales growth compared with a year ago.
AlixPartners, the global consulting firm, forecasts that holiday sales will be up anywhere from 4% to 7% over last year. The current inflation rate of 8.3% means retailers would see a decrease in real sales.
Wednesday, the Federal Reserve announced a third consecutive three-quarter-point hike, marking a historic moment as it continues to try and curb inflation.