Walmart is one of the most recent (and biggest companies) to announce that they're rolling back diversity, equity, and inclusion policies, bending to conservative pressure.
The last quarter of the year can be make it or break it for businesses like Walmart. Here's how you can use your dollar to tell the store how you feel about their new stance on these issues.
As you've probably noticed, the end of the year is one of the most sale-heavy times for many retailers, both in terms of discounts and profits.
Between Thanksgiving, Black Friday, Small Business Saturday, Cyber Monday, Hanukkah, Ramadan, Kwanzaa, Christmas, and New Year’s, there always seems to be something to buy during this time of the year, from food to decorations to decorations to new outfits.
And if you want to send a message to a particular retailer by withholding your dollars, this is the time to do it, said a former Walmart manager.
In a follow-up video, she specified that she was targeting Walmart because of the recent announcement that they're pulling DEI efforts.
"I just want to give y'all the tea real quick. In case y'all didn't know, this is how you can make Walmart understand how important your dollars are," said TikToker @livingmoorelife.
Moore was a Walmart store manager for 21 years. In a viral TikTok with more than 860,000 views, she shares why end-of-year shopping is so important for companies and how you can have an impact.
She explains that in the fourth quarter of the year, businesses like Walmart are trying to improve their bottom line, as annual shareholder calls are coming up, and they'll want to see profit growth.
"Right now they're pushing to get those last few dollars," Moore says.
Moore adds that events like Black Friday are an effort to get more people in the store or on their sites so that people buy more than the one thing they intended to buy.
This is especially true on the merchandise side, she says, alleging that they make most of their profits from merchandise markups, not the grocery section.
Moore explains that retailers like Walmart have contracts for monthly merch shipments, and if they don't move it within their estimated times, the times will need to get heavily discounted to move it off the floor.
"Otherwise, you're going to see Walmart start to look like Dollar General Stores," Moore says, referencing the pile-up of boxes commonly seen at the dollar chain as well as other understaffed retailers.
She also notes that some stores are "thinly staffed" despite the busy season because when a retailer needs to roll back on expenses, payroll is one of the first cut areas.
"If you really want to make an impact and let the company know how you feel about their marketing practice, etcetera, this is the time to do it," Moore says.
Several companies, including Ford, Harley-Davidson, and Lowe’s, have pulled back their DEI initiatives, but the Associated Press reported that Walmart joined the list as the largest company to do so.
The company will not renew its five-year commitment to an equity racial center that was set up in 2020 after the police killed George Floyd, they're pulling out of an annual index that measures workplace inclusion for LGBTQ+ employees, and will no longer prioritize vendors based on race or gender.
Moore is right. Many business leaders agree that the last sales quarter of the year is the most important.
It's the last opportunity companies have to hit their sales goals for the year (especially if they're lagging at all), and it is prime time to make holiday sales.
In some industries, the fourth quarter is up to 75% of their annual sales, LNP Media Group reported.
It can also set the tone for the next year. While the fourth quarter would ideally push positive momentum, lagging sales could also hurt moral and business goals.
"I canceled my Walmart plus, we are farmers market and aldi shoppers now," a top comment read.
"Walmart paid you for 21 years and now you want them to lose money???" a person said.
@livingmoorelife #walmart #foryoupage #followers ♬ original sound - Moore2life
"On a normal year I would have spent at least $1,000 on Walmart alone in December... not one penny this year," another wrote.
The Daily Dot reached out to Moore for comment via Instagram and TikTok direct message and to Walmart via email.
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The post ‘Walmart will start to look like Dollar General stores’: Ex-Walmart worker reveals the real reason the store has so many deals this time of year appeared first on The Daily Dot.
