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.Bloomberg