Several stores will close for Thanksgiving this holiday shopping season.
Kohl’s and Best Buy announced this week that the stores would not be open for business during the holiday, joining Target, which made the decision last year to close every Thanksgiving.
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“Customers looking to shop Kohl’s on Thanksgiving Day will be able to shop on Kohls.com and in the Kohl’s App,” the store said in a release.
Best Buy wrote, “Our stores will be closed on Thanksgiving, but customers can still shop big savings on BestBuy.com or through the Best Buy app.”
After closing on Thanksgiving for the past couple of years due to the coronavirus pandemic, Target made the decision to make the move permanent because “feedback from the Target team and guests has been very positive, giving the retailer confidence that its business model will continue to meet the needs of all families.”
Target said it would still have some employees working the holiday to prepare for Black Friday, but those workers will receive adjusted pay.
Black Friday online sales are expected to grow by just 1% this year, the slowest it has in 15 years. This comes as inflation clocked in at 8.3% in August.
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Appliance prices during the shopping holiday may not live up to expectations because supply chain struggles have left companies with lower profit margins. To make up for this, markdowns may be smaller than they have been in previous years.
“The promotional price might be attractive compared to what something cost earlier this year, but it’s not clear that it will cost less than it did a year ago,” Designer Appliances owner John Carey said, per the New York Post. “It might wipe out the inflation increase.”
