With 2020 proving disastrous for retailers, a group is introducing a new shopping holiday for a much-needed boost — or at least to help prevent things from getting worse.
It’s called 10.10, mirroring China’s Singles’ Day, which is held on Nov. 11, or 11/11, and is now the world’s biggest shopping event. More than two dozen major retailers have signed on, says Deborah Weinswig, a retail consultant who masterminded the new event. The rewards app Shopkick Inc. is a partner in the effort and is launching a 10.10 website.
Companies have yet to disclose their participation. Retailers carefully plan sales events, where the element of surprise can be key in drumming up shoppers’ interest.
The aim is to pull holiday shopping into October from closer to Christmas so retailers can cope with limits on both shipping capacity and available merchandise. Unprecedented demand during the pandemic has constrained