Is your holiday shopping finished?
Here it is: It is the end of September with college football just getting underway and already businesses are talking holidays. Not Halloween. Not Thanksgiving. That end of year one.
Okay, it is true that stores have to order the merchandise that will be unpacked and put on the shelves for after Thanksgiving shopping. Make that – before Thanksgiving shopping. Realistically, it is before Halloween shopping.
If you’ve somehow avoided the seasonal aisles for the past month and a half, you haven’t seen the pumpkins, candy, and costumes. Stockers cleared out the barbecue grills, pool chemicals, and lawn chairs and replaced them with plastic skeletons.
Not only are the holidays not even around the corner yet, but Best Buy is already giving up on the prospects. CEO Brian Dunn says his stores won’t hire as many workers this year because he anticipates lower sales. “That’s the new normal,” he said. Less than half of last year’s temporary workers will be hired on this season.
The electronics-oriented retailer plans to focus on under-$100 items, and spend its efforts promoting online sales. Smart-phones – which have become the backbone of the United States economy – will be promoted in the wake of new versions to be released in the coming weeks.
Earlier in September, Best Buy reported net income down thirty-percent amidst flat revenue.