Step aside, Black Friday – there’s a new shopping holiday in town.
Deemed “10.10” to mirror China’s Singles’ Day, the largest retailing holiday which takes place on November 11 (or “11.11”), the new event comes as an effort to help aid and revive a retail sector heavily devastated by the COVID-19 pandemic. Bloomberg reports that over two dozen major retailers have already signed on, with rewards app Shopkick Inc. stepping in as both a partner and sale hub of all brands participating in the event.
The 10.10 shopping holiday is the brainchild of Deborah Weinswig, a renowned retail specialist and the Managing Director of Fung Global Retail & Technology. The event seeks to reposition the start of holiday shopping to October as opposed to November. This theoretically would help to ensure retailers can have a better grasp on shipping and merchandise production in relation to the demand setbacks brought on by the pandemic.
Many retailers have experimented with ways in which to boost sales that have suffered in the wake of coronavirus. A few, such as Home Depot and American Eagle, have already announced their intention of moving up major holiday sales events to earlier dates. With the postponement of other big e-commerce sales events such as Amazon Prime Day, 10.10 is already slated as being the seamless experience 2020 holiday shoppers will need… PennLive