A potential blockbuster national shopping holiday event, 10.10, and Amazon.com’s aggressive moves are providing more evidence that the holiday season will gain a significant jumpstart in October.
The brainchild of Deborah Weinswig, CEO of Coresight Research, in a partnership with Shopkick, 10.10, set for October 10, mimics China’s Singles’ Day, the world’s largest shopping day that takes place on November 11. More than a dozen major retailers have signed on, although they’ve yet to disclose their participation, according to a Bloomberg report.
One goal of the event is to pull holiday sales forward to better balance any merchandise shortfalls due to conservative inventory buys amid the pandemic.
A second is managing delivery constraints that may result from accelerated online buying expected this holiday due in part to the concerns or restrictions on in-store shopping. Deloitte last week projected e-commerce holiday sales would surge by 25 percent to 35 percent compared to a 14.7 percent gain in 2019.
Earlier online sales will help retailers avoid shipping surcharges and ensure shipments arrive on time.
“If we don’t pull it forward, then it won’t happen,” Ms. Weinswig told Bloomberg, referring to an optimal holiday season.
The event will likely follow Amazon’s postponed July Prime Day event, which is expected to take place in the first week of October. Amazon’s Black Friday deals are also expected to be moved earlier, kicking off Oct. 26 and running through Nov. 19, according to a report from Tamebay, a publication for Amazon Marketplace sellers. In 2019, the deals started Nov. 1.
Target and Kohl’s had already indicated they were planning to start some holiday promotions in October, and a host of other retailers, including American Eagle Outfitters, Best Buy, Macy’s and Nordstrom, have signaled deals would arrive earlier than recent years.
Lengthening the holiday selling period would help spread the holiday traffic across more days to support social distancing.
Home Depot recently announced it will be “reinventing” Black Friday this year, extending deals for two months to accommodate shoppers. The home improvement retailer said in a statement, “Say goodbye to one day of frenzied shopping and enjoy Black Friday savings all season long without the stress and crowds.”
