Retailers create new 'Black Friday' event to jumpstart holiday shopping early

Stephanie Asymkos
·Reporter
·3 mins read

Only in 2020 does it make sense that there’s a new unofficial start to the holiday shopping season — as opposed to Black Friday — and it’s online and in October.

Riffing on China’s massively profitable annual Singles’ Day shopping extravaganza that comes every November 11 or 11/11, the 10.10 Shopping Festival aims to drum up online sales and excitement for the upcoming holiday shopping season during the pandemic and help shoppers avoid potential shipping delays.

Read more: Here are the retailers requiring customers to wear face masks

Led by retail research and advisory firm Coresight Research and shopping rewards app Shopkick, the event will run from October 9 to 12, ending just before Amazon’s two-day Prime Day event kicks off.

“With our research showing most consumers anticipate doing their holiday shopping earlier this year, it’s the perfect time to launch,” said Deborah Weinswig, Coresight Research’s CEO and founder. “The extra time before December will help alleviate every retailer’s nightmare in a year involving skyrocketing online sales, order processing, fulfillment, and shipment delays.”

A man waits in line to check out at a Target store on Black Friday in Lanesborough, Massachusetts November 26, 2010. (REUTERS/Adam Hunger)
A man waits in line to check out at a Target store on Black Friday in Lanesborough, Massachusetts November 26, 2010. (REUTERS/Adam Hunger)

‘Elongate the season’

The event was created with the intent to “elongate the season” for retailers to take off some of the pressure placed on retailers and brands to work within the abbreviated constraints of the holiday season.

Weinswig even teased that a second shopping event might occur in January to give retailers an opportunity to sell excess product at a “margin that consumers were willing to pay or that retailers desired.”

Read more: Here's how the pandemic has changed our feelings about shopping

To help struggling retailers survive 2020, retailers are tailoring their sales and discount plans to these unprecedented times.

“This idea that if we start earlier and end later that retailers won't necessarily need to participate in these heavy discounts of old,” Weinswig said.

People enter Macy's Herald Square for an early opening of the Black Friday sales in Manhattan, New York, November 24, 2016. (REUTERS/Andrew Kelly)
People enter Macy's Herald Square for an early opening of the Black Friday sales in Manhattan, New York, November 24, 2016. (REUTERS/Andrew Kelly)

Stretching out the season also benefits shoppers to “make sure that the product is delivered when the consumer wants to give it and to get it,” she said.

Every retail participant is also donating a percentage of the proceeds to an array of charities, including St. Jude Children’s Research Hospital and the Breast Cancer Research Fund.

“As the economic toll from the global pandemic continues to weigh on consumers, we want to make it even more rewarding for them to accomplish their holiday shopping,” said Dave Fisch, general manager of Shopkick. “Whether in-store or online.”

Participating retailers and brands

Shoppers line up outside Best Buy before the store opens in Newport, New Jersey November 27, 2014. (REUTERS/Eduardo Munoz)
Shoppers line up outside Best Buy before the store opens in Newport, New Jersey November 27, 2014. (REUTERS/Eduardo Munoz)
  • Auburn Jewelry

  • Bloom Beauty

  • Dermelect

  • Graphic Image

  • Guess

  • Hollywood Fashion Secrets

  • Jos A. Bank

  • K & G Fashion Stores

  • Kroger

  • Men's Wearhouse

  • Organic Candy Factory

  • Puravi

  • Shock

  • Shop Fashwire

  • Participating on Shopkick

  • First Leaf

  • Lenovo

  • Shoe Carnival

  • Ulta Beauty

  • Participating on Fashwire

  • Alivia

  • Amaya

  • Andrew & Cole

  • aSady

  • Beauhstyle

  • Celeste Sol

  • CoFi Leathers

  • D-Luca

  • DEZEN

  • Elizabeth Moore

  • Elizabeth Reid

  • FELLER

  • GiGi New York

  • Gold & Honey

  • Kaanas

  • Maneesha Ruia

  • Mantari

  • Milwaukee Boot

  • Modern Tie

  • Mona Assemi

  • Moral Code

  • MURMUR

  • Rafe New York

  • Rebecca Nadler

  • Redd Accessories

  • Rossario George

  • Royal Nomad

  • Rubin Singer

  • Shannon Koszyk

  • Suzanna Dai

  • Valeria Amaral

Yahoo Money sister site Cashay has a weekly newsletter.
Yahoo Money sister site Cashay has a weekly newsletter.

Stephanie is a reporter for Yahoo Money and Cashay, a new personal finance website. Follow her on Twitter @SJAsymkos.

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.