Why 10.10 Festival Is Important

Alibaba has it, JD.com has it, and Amazon has one. Shopping festivals are a trend that has accelerated as commerce seeks to energize global economies. A shopping festival offers consumers a dash of retail therapy while brands can grow sales and engagement.

A few weeks ago, Coresight Research, Shopkick, and Fashwire announced the 10.10 Shopping Festival. A well-known commerce research business, an offline to an online app, and a double-sided fashion marketplace offer US consumers, retailers, and brands access to customers.

“We’re thrilled to thank our loyal users by offering big kicks throughout Shopper Appreciation Weekend, and to partner with Coresight Research to make the 10.10 Shopping Festival a reality for shoppers across the country,” said Dave Fisch, general manager of Shopkick. “By rewarding consumers throughout the entire online and in-store shopping experience, we hope to make it that much easier to check off all of their holiday needs, while also offering a chance to give back to a worthy cause.”

Source: 1010 Shopping Festival

I have seen 10.10 before

In 2012, Grant Arnott co-founded Click Frenzy in Australia. The scrappy startup has, over eight years, created one of the biggest shopping days in May. Click Frenzy emerged due to Australia not having events akin to Black Friday and Cyber Monday.

In India, Flipkart has developed the Big Billions Shopping Festival, which is rivaled by Amazon India’s Great Indian Festival. These are only online but have grown significantly in the past two years.

Fast forward to Q4 of 2020 and commerce has been harshly impacted by hit due to COVID-19. Retail has seen closures, bankruptcies, and many job losses and no real solution to restart the sector. The 10.10 Shopping Festival helps retailers, brands, and charities make sense of 2020.

Why 10.10 Festival is going to succeed:

  • The lack of a horizontal marketplace as part of the festival enables brands and retailers of all sizes to have equal opportunity to leverage the event. 
  • Deborah Weinswig is deeply entrenched in global commerce and has seen the positive impact when business works together. She has seen how Alibaba’s 11.11 Shopping Festival showcases co-operation between multiple parties to offer consumers products and experiences.
  • It follows the trend of shopping holidays to reward shoppers and enable brands and retailers to grow sales.
  • It re-imagines retail by leveraging personalization, gamification, the festivity trend seen in global retail. Consumers are unwilling to go to stores over COVID-19 fears. Logistics and shipping concerns have placed retailers in a position to either move quickly and profit or lose out and have unhappy consumers.
  • It is over several days, which offers brands and retailers plenty of opportunities to access consumers strategically.
  • The event, through its partnership with Shopkick, aims to drive people into retail locations. Even if they don’t visit a store, they can also access deals via the app. 
  • October is focused on back to school, Halloween, and in 2020 Prime Day. This makes promotions for brands in the US hard as only certain products fit these national events. 10.10 offers that opportunity for all.
  • 10.10 offers brands the opportunity to test campaigns and pricing before Black Friday, Cyber Monday, and the Festive Season. This is an early stress test for brands and retailers to confirm whether they are ready for Q4. 
  • Philanthropy – as retail is a large part of the community, 10.10 is leveraging charity as part of its value proposition.. St. Jude is a cornerstone partner; Pink Aid helps celebrate Breast Cancer Awareness Month with a 1010 Gala. Soles4Souls turns unwanted shoes and clothing into livelihoods for those in underdeveloped countries as well as The Mayor’s Fund to Advance New York City for people with disabilities (PWD). 

Partnerships

Participating Retailers and Brands

  • Auburn Jewelry
  • Bloom Beauty
  • Dermelect
  • Graphic Image
  • Guess
  • Hollywood Fashion Secrets
  • Jos A. Bank
  • K & G Fashion Stores
  • Kokostar
  • Kroger
  • Las Delicias Patisserie
  • Men’s Wearhouse
  • Organic Candy Factory
  • Puravi
  • Shock

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

The festival’s supporting partners:

  • Blue Yonder
  • Manhattan Chamber of Commerce
  • Newmine
  • Position Imaging
  • Precima
  • Retail Innovation Conference
  • Science Inc.
  • Shelfy
  • Tanger Outlets
  • Trove

Update: 10/6 Adding retail partners, Shopkick and Fashwire participants