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A New Shopping Holiday Aims to Avoid a Void Under the Tree

  • U.S. version of Singles’ Day aims to move holiday shopping up
  • Limited goods and shipping capacity are big concerns this year
Bloomberg business news
Alibaba's Singles' Day Sales Record

With 2020 proving disastrous for retailers, a group is introducing a new shopping holiday for a much-needed boost -- or at least to help prevent things from getting worse.

It’s called 10.10, mirroring China’s Singles’ Day, which is held on Nov. 11, or 11/11, and is now the world’s biggest shopping event. More than two dozen major retailers have signed on, says Deborah Weinswig, a retail consultant who masterminded the new event. The rewards app Shopkick Inc. is a partner in the effort and is launching a 10.10 website.