Target says it aims to hire roughly 100,000 workers for the holiday shopping season.
The retailer’s plans, announced Monday (Sept. 16), are in line with last year’s hiring levels, and come as analysts expect a slightly slower pace of shopping for 2024.
The openings are for Target’s stores and supply chain facilities, the company’s announcement said, noting the need for workers to support order pick-up, drive-up and product stocking needs. While the jobs are seasonal, Target points out that more than half of last year’s holiday hires were offered permanent roles with the company.
“Again this year, the retailer is investing in its team by first offering current team members opportunities to work extra hours throughout the holiday season,” Target said in a press release. “Target also continues to leverage its On Demand team in its stores, a group of team members who can pick up shifts as desired, allowing them to balance their personal, financial and career goals.”
The announcement comes days after a report from Deloitte which suggests that American consumers will slow their holiday spending compared to last year.
The report projects that holiday retail sales for 2024 will increase between 2.3% and 3.3%, to $1.58 trillion to $1.59 trillion between November and January. In 2023, holiday sales climbed by 4.3% during the same time frame, the auditing/consulting firm said.
“Although the pace of increase in holiday sales will be slower than last year, we expect that healthy growth in disposable personal income, combined with a steady labor market, will support a solid holiday sales season,” said Akrur Barua, economist, Deloitte Insights.
Deloitte’s findings follow reports showing that inflation had slowed to a three-year low, even as data from the Fed showing consumers loading up on revolving debt on credit cards, with debt 25% above pre-pandemic levels.
Although the Fed data showed median household spending growth expectations rising, if things like shelter and dining out remain pricey, PYMNTS wrote, “the read-across is that there’s less money to spend on other things such as apparel or electronics headed into the fall months and the holiday shopping season.”
And as noted here earlier this month, there are signs that cash-strapped consumers may spend this fall chasing deals, including from retailers like Target.
“Given the significant headwinds they faced with inflation over the last few years, consumers continue to focus on value as they work hard to manage their household budgets,” Target Chair and CEO Brian Cornell told analysts on the company’s most recent earnings call. “And while they continue to turn out and shop around holidays and other seasonal moments, many are delaying purchases until the moment of need.”
