Dive Brief:
- Taking a more-is-better approach, Walmart will hold two Black Friday events — both online and in stores — in addition to one Cyber Monday sale this holiday season, per a company announcement Monday.
- The retailer’s first Black Friday sale will be from Nov. 14 to Nov. 16. The second event will occur online only from Nov. 25 to Nov. 27, then online and in stores on Nov. 28 to Nov. 30. Walmart+ members get early access to both events. A single-day, online-only Cyber Monday sale will be held on Dec. 1.
- Walmart’s first deals event will feature discounts on products such as TVs, vacuums, toys, apparel and more. To promote the events, Walmart also debuted a Dr. Seuss-inspired marketing campaign called WhoKnewVille.
Dive Insight:
Value continues to be a core focus this holiday season for major retailers battling increased economic pressure on consumers.
“For years, Walmart has owned Black Friday — and this year we’re proving why,” Walmart U.S. President and CEO John Furner said in a statement. “We’re dropping up to 60% off top brands and offering thousands of deals under $20, making it clear: nobody does low prices like we do. Just like our Thanksgiving Meal Basket we’re leading on convenience and rewriting what value looks like, helping customers have their best, brightest and most budget-friendly holiday yet.”
Consumers are facing increased pressure on their wallets — exacerbated by the looming potential of impacts to food assistance — as some research suggests shoppers will pull back on holiday spend. Walmart could especially notice the sting of this, as the retailer captures over a quarter of SNAP grocery dollars.
Additionally, some research suggests shoppers will pull back on holiday spend. A JLL study report from October found that U.S. consumers earning under $50,000 annually will spend 24% less on holiday purchases, while those earning over $150,000 will spend 26% more. The over-reliance on higher-income consumers was even flagged as something keeping Best Buy’s CEO Corie Barry up at night. This is coinciding with retailers’ struggles to mitigate the impact of evolving tariff rates.
Though Walmart’s second-quarter revenue remained healthy, the company’s CEO Doug McMillon told analysts on a call in August that it was just starting to see related costs increase weekly.
The upcoming deals add to Walmart’s recent savings event that was held from Oct. 7 through Oct. 12, which competed with similar events from Amazon and Target.