Amazon created Prime Day, which is October 13 and 14 this year, and Alibaba popularized Singles’ Day, every year on November 11, so why shouldn’t other retailers create their own sales days? A group of retailers did just that and created a new holiday for this October.
Created by Coresight Research, rewards apps Shopkick, and online marketplace Fashwire, the inaugural holiday was created to drive earlier holiday shopping sales and alleviate supply-chain and logistical pressure that’s been exacerbated during the COVID-19 pandemic. The 10.10 Shopping Festival seemingly gets its date from mirroring Singles’ Day (11/11) date stylization, although it will run from October 9-11.
"The timing, coupled with what we've learned from Alibaba's Singles' Day — a newly created shopping holiday that turned into a resounding success for the Chinese retail platform — are key aspects of our decision to band together to create this event,” Coresight CEO and founder Deborah Weinswig said in a press release.
Over three dozen retailers including Guess, ULTA, and Men’s Wearhouse are listed as participating retailers.
According to Bloomberg, holiday shoppers in China bought more products during Singles’ Day than during the four-day sales from Black Friday to Cyber Monday in 2017 - the biggest shopping event in the world that year. Singles’ Day has only grown since then and amassed appeal outside of just China.
Research from Facebook suggests that sales holidays will be a hit with price-sensitive shoppers, as 1 in 3 say they’re waiting for products to be on promotion, discount, or sale before purchasing. And last year, an average of 54% holiday shoppers surveyed purchased during a sales holiday.
While there’s nothing stopping brands from running their own deals on days where shoppers have their wallets open and are seeking deals, 10.10 Shopping Festival is inviting brands to reach out by emailing [email protected] with their deals and a charitable contribution in mind.
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