Will 2020 be the year the holiday selling season changed forever?
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.”
- 10.10 Shopping Festival. How Retailers Can Jumpstart Holiday Shopping – Coresight Research
- A New Shopping Holiday Aims to Avoid a Void Under the Tree – Bloomberg
- Amazon kicks off holiday deals with specials through Nov. 21, more free delivery options – USA Today
- How The Home Depot Is Improving The Way We Do The Holidays This Year – The Home Depot
- Amazon Early Black Friday Deals start 26th October 2020! – Tamebay
- Amazon will reportedly offer early Black Friday deals starting on October 26 – Business Insider
- A Tale of Two Holiday Seasons: As a K-Shaped Recovery Model Emerges, Consumer Spending Heavily Bifurcated – Deloitte
- Few early starts for ‘Black Friday’ as these retailers are closing for the Thanksgiving holiday – Yahoo News
- Holiday Deals Will Be Starting Earlier Than Ever — Here Are 4 Reasons Why – Footwear News
- COVID-19 will redefine the meaning of Christmas creep in 2020 – RetailWire
DISCUSSION QUESTIONS: What impact do you expect Prime Day, 10.10 and individual retailer sales promotions to have on Christmas holiday sales and fulfillment this year? Do you expect conducting major holiday promotions in October to become established practice beyond 2020?