Flouting retail trend, Big Lots to remain open on Thanksgiving - The Entrepreneurial Way with A.I.

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Friday, November 5, 2021

Flouting retail trend, Big Lots to remain open on Thanksgiving

#SmallBusiness

Dive Brief:

  • Breaking with other retailers that are closing on the holiday, Big Lots will stay open on Thanksgiving Day for extended hours at all U.S. locations, the retailer announced on Wednesday
  • Big Lots is offering 50% discounts on all toys on Thanksgiving, and savings on other products on Black Friday weekend like holiday d├ęcor and recliners. 
  • Members of its Big Rewards program will receive 15% off their purchases and $10 in Big Bucks coupons toward their next purchase for each $100 spent, per the announcement. 

Dive Insight:

Big Lots' decision to remain open on Thanksgiving stands out among multiple other retailers, including Walmart, Target, REI, Simon Property Group and Best Buy, that have opted to close their doors for the day.

"We know many of our customers work over the holiday weekend and may appreciate getting an early jump on their holiday shopping on Thanksgiving Day, " Big Lots CEO Bruce Thorn said in a statement. 

To entice Thanksgiving shoppers, Big Lots is offering a significant discount on toys. That product category has been facing troubles leading into the holiday season stemming from the coronavirus pandemic. Toy manufacturers are concerned that their products may not make it into stores in time for the season. 

"If people go out to those major retailers, they will see the toy shelves are pretty well-stocked. We don't know how long that will last," Ed Desmond, vice president of The Toy Association, said in a statement in September. "One issue we do fear is that you may not see the same breadth of selection heading into the fall shopping season." 

Even Hasbro saw $100 million worth of orders go unfilled in Q3 because of supply chain woes, even though the majority of those orders were filled early in Q4. 

Thorn said that the company is offering overtime pay and a $50 gift card to workers who volunteer to work a shift on Thanksgiving.

"We're inviting all our customers — we call them 'BIGionaires' — to shop with us throughout the holidays, including Thanksgiving Day and Black Friday weekend," Thorn said in a statement. "We also want to share our thanks and appreciation with all of our outstanding associates for helping us deliver exceptional value for our customers every day in our stores."





via https://www.aiupnow.com

Kaarin Vembar, Khareem Sudlow