Many Americans rely on the convenience and accessibility of Walmart (WMT) -) each and every day.
The old adage that there's a Walmart in every town is almost true; 90% of Americans live within 10 miles of a Walmart.
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And before covid, many of us believed there was nothing that could shut down a reliable big box retailer like old Wally World. It kept long hours, typically from dawn til way past dusk, stayed open on holidays, and delivered what it didn't have in store.
Then, one by one in March 2020, large stores shuttered as America weathered the worst of the pandemic. Grocery stores, malls, plazas, and big box stores like Walmart all closed their doors in an attempt to shut out the virus. When things finally reopened, patrons masked up and cautiously re-entered — but things are different.
For one, many of us now get our goods and groceries online. Take, for example, the rousing success for Amazon's (AMZN) -) 2023 Prime Days and the increasing frequency at which we order our meals and groceries via an app.
It's not that we don't enjoy shopping in-person anymore (though some of us definitely don't), it's that we've evolved. And in that spirit, plenty of retailers have, too.
Walmart makes a major holiday announcement
Big box stores have had to change and adapt over the last four years, and often that means going the extra mile to suit the customer or make things more convenient. But in Walmart's case, an announcement by Walmart U.S. CEO John Furner is making things more convenient for employees.
"I am delighted to share that once again, we'll be closing our doors for Thanksgiving this year," Furner told associates in a video posted to Twitter on Monday. "Thanksgiving is such a special day during a very busy season. We want you to spend that day at home with family and loved ones."
"We all have so much to be thankful for this year, and I'm especially thankful for the opportunity to work with all of you," he continued.
Thanksgiving is a special day, and we want our store associates to have the chance to spend it with their families and loved ones. Hear from John Furner about how we're closing Walmart stores on Thanksgiving again this year. pic.twitter.com/fNIONuTn3b
— Walmart Inc. (@WalmartInc) October 9, 2023
The decision to close for Thanksgiving is Walmart's fourth consecutive decision on the holiday, which began during the pandemic when travel and gathering was far more sparse.
Now, though, many other retailers have carried on the tradition, giving employees the opportunity to unwind and take the day off in order to observe a holiday.
And that break is much-needed. Retail workers have some of the lowest job satisfaction rates in the industry as the prospect of typically long hours, increased workplace violence, and dwindling wages all make the idea of a shift on the floor unappetizing.
According to 2022 McKinsey & Co. data, one in five Americans is employed in the retail and hospitality sector and the quit rates are twice as high as in other workforce sectors.
It hasn't gotten much better in 2023. A recent Retail Workplace Survey by Loss Prevention Magazine revealed that 60% of retail workers saw some form of violence on the job over the past 12 months. Here's how that breaks down:
- 23% of those surveyed said they were a victim of verbal assault
- 14% said they were a victim of physical assault
- 10% said they were the victim of bullying or emotional assault
- 3% said they were the victim of a sexual assault
Other retailers, including Target (TGT) -), TJX Companies (TJX) -), Costco (COST) -), and Home Depot (HD) -) have made similar moves to close during Thanksgiving in an effort to bolster employee satisfaction and offer time off to spend with loved ones.
