Retailers are already in action in respect of this year’s holiday season, and have been kicking-off deals earlier to make the most out of this significant revenue-generating period. However, unlike previous years, the coronavirus pandemic has altered the retail dynamics this time. With safety being the highest priority, shoppers are increasingly resorting to online purchasing pushing retailers to reimagine digital store concepts and augment omni-channel capabilities. Walmart Inc. WMT, which has been proactively fulfilling such evolving trends, unveiled that it will host a reinvented Black Friday. The company will extend it from one day to three separate events in November
The new "Black Friday Deals for Days" will all start online and transition to in-stores a few days later. The core idea behind this revamped Black Friday shopping bonanza is to attract more online customer and thereby control customer rush inside stores. Talking of offering deals, the supermarket giant is already undergoing its five-day Big Save Event, which kicked-off on Oct 11 and will last until Oct 15. The company is providing deals on tech gadgets, home and appliance, beauty and fashion, and toys among others.
That said, let’s dig deeper into the Black Friday savings event.
Black Friday Deal Days – A New Approach This Year
Through the revamped Black Friday savings event, Walmart plans to deliver exciting offers in an entirely new way to provide a safe and convenient shopping experience. It plans to offer the best prices of the season on preferred items across three separate events. This year, in addition to door delivery, customers will also be able to avail Walmart’s contact-free curbside pickup service for their Black Friday online orders. Moreover, the event incorporates savings on items from brands like HP, LEGO, L.O.L. Instant Pot, Surprise!, Roku, Shark and many more.
The event will kick-off online on Nov 4, offering deals on toys, electronics and home products. More deals will be added on Nov 7, in stores and online. The second event will begin online on Nov 11, wherein offers will be levied on products like electronics, movies and music alongside items in apparel, hardlines, home and more. This will be followed by new deals in stores and online on Nov 14. The third event will commence online from Nov 25 and will include offers on a wide range of assortments. The event will wrap up on Nov 27, when new deals will be available both online and in stores.
Management highlights that this year’s Black Friday event will be more spread out, with the hottest deals being made available online. This will ensure less crowding of stores, thereby making in-store shopping safer and more convenient. While shopping in stores, Walmart’s associates will hand out sanitized shopping carts to customers. The company will also undertake measures to manage store traffic efficiently, so as to reduce congestion. To meet such norms efficiently, stores will appoint health ambassadors. Notably, the festive season will continue for Walmart post the Black Friday Deals for Days. The company will be offering rollbacks on items and everyday low prices across all categories throughout the season, in stores as well as online.
Making the Most out of the Holiday Season
Walmart is undertaking solid endeavors to capitalize on the holiday season opportunities. Last month, the omnichannel retailer unveiled a slew of measures to address customers’ core shopping patterns especially for this festive period — elevated online shopping, requirement of a fast and safe shopping experience and evolving wish lists.
To cater to the holiday season rush, the company is on track with hiring more than 20,000 seasonal workers at its countrywide e-commerce fulfillment centers. This will ensure efficient management of the surge in online shopping. The hiring commenced on Sep 23, 2020, and is likely to continue till Jan 2021. Clearly, Walmart is turning every leaf to keep things bright this holiday season.
Other retail behemoths have also been undertaking prudent measures to stay ahead this holiday season. For instance, Target TGT is offering approximately 1 million more deals to shoppers compared with the last year, spanning October through December. Moreover, Target’s “Deal Days” shopping event, which is ending on Oct 14, features steep discounts on a wide category of products. Markedly, Target’s "Deal Days" coincides with Amazon’s AMZN two-day special Prime Day mega shopping event. The e-commerce giant had earlier notified that it is investing $100 million on special Prime Day and other holiday promotional programs in a bid to deliver an enhanced shopping experience to buyers and support sellers. Best Buy BBY is also offering dozens of deals from its not-yet-released Black Friday ad, in a two-day event ending today.
Coming back to Walmart, the company’s concerted efforts to keep pace with customers’ evolving buying trends are likely to pay off this holiday season. Markedly, this Zacks Rank #2 (Buy) stock has gained 10.8% in the past three months compared with the industry’s growth of 8.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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