Target to hire 100,000 seasonal employees, launches early holiday promotions

(Adds Walmart comment in paragraph 4)
Sept 16 (Reuters) – Target said on Monday it would employ about 100,000 seasonal workers this holiday season, in line with the last three years, even as inflation-weary shoppers are expected to stay frugal during the key shopping period.
Holiday retail sales are expected to grow at their slowest pace in six years, according to data from Deloitte last week.
Target said the seasonal hires were for its stores and supply chain facilities, with majority of them working at its stores.
Walmart said its holiday hiring plans would be consistent with the past few years, where the company first offered more hours to existing employees and hired additional workers if needed. The retail bellwether had hired about 40,000 seasonal workers in 2022.
Overall, retailers plan to do similar levels of seasonal hiring as last year, consultancy firm Bain & Company has said. Last week, Bath & Body Works said it would hire 30,000 seasonal workers for the holiday season, same as 2023.
With customers expected to begin their holiday shopping early while looking for additional discounts in categories ranging from groceries to homegoods, retailers in the United States have been launching discounts and beefing up promotions.
Target added that its deals week program, Target Circle, will start from Oct. 6.
To lure value-seeking shoppers, Target said on Monday it would introduce more affordable holiday items, which include more than half of holiday toys under $20 and thousands of stocking stuffers under $5.
Earlier this year, Target reduced prices on over 5,000 popular items, including bread, soda, paper towels, and pet food, helping the company raise its full-year profit forecast after reporting upbeat quarterly comparable sales.
The holiday shopping season typically accounts for more than half of U.S. retailers’ annual revenue.
Electronics retailer Best Buy said on Monday it would kick off its holiday season with multiple sales events, with its exclusive member sales starting from Sept. 27 to 29. (Reporting by Anuja Bharat Mistry and additional reporting by Ananya Mariam Rajesh and Savyata Mishra; Editing by Sonia Cheema and Maju Samuel)