Retailers across the country are noticing their workers participating in retail’s latest trend – Silent Quitting.
While a majority of the trends we discuss regard trends that help you sell more, silent quitting has become a red flag to look for.
This week we uncover the latest trends and see what top retail execs have to say about inflation, inventory, and more.
THIS WEEK’S HIGHLIGHTS
- Mid-year Catch up: What to expect leading up to the holiday season.
- Silent Quitting: Everything you need to know about the latest trend.
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
This year has been a rollercoaster for retailers alike. At the halfway point of the year, top retail execs gave their thoughts about inflation, inventory, and more.
Doug McMillon, CEO of Walmart, stated that they were able to make good progress to reduce inventory levels where they focused and took markdowns. The aggressive approach they took to move through apparel in particular put financial pressure on Walmart, but it helped relieve pressure on the stores and through our supply chain.
Brian Cornell, CEO of Target, stated that reducing excess inventory has been the focus leading into the holiday season. While Target considered holding on to excess inventory and attempted to deal with it slowly over multiple quarters or even years, they decided it would have cluttered our sales force and hampered our ability to present new, fresh and fashionable items.
Latest Trend: Quiet Quitting
While a majority of the trends we discuss regard trends that help you sell more, a recent retail trend has become a red flag to look for.
Quiet quitting is about seeking greater work-life balance — except you get to keep your job. Workers are doing the bare minimum at your job, including avoiding overtime and tasks outside your job description as well as limiting engagement at work, such as switching off devices and logging off after work hours.
As said by The New York Times, “For some, it was mentally checking out from work. For others, it became about not accepting work without additional pay.” The trend has been circulating throughout social media and has become something to keep your eye on as new workers enter your team.