As one of the most consumer-friendly countries in the world, the United States has a plethora of shopping “holidays” throughout the year. Some of the most popular include Black Friday, Valentine’s Day, Mother’s Day, Father’s Day, Halloween, Easter and Independence Day.
With so many shopping “holidays” on the books, we don’t really need another — but we have one anyway. Every June 18, the U.S. “unofficially” celebrates National Splurge Day — when consumers can indulge their wildest desires, regardless of price or budget.
Why Does National Splurge Day Exist?
National Splurge Day is the brainchild of Chicago native Adrienne Sioux Koopersmith. Known as “America’s premier eventologist,” Koopersmith has helped invent more than 1,900 “holidays” over the years — from Lost Penny Day (Feb. 12) to National Pandemonium Day (July 14).
The inspiration for National Splurge Day? Koopersmith was apparently tired of all the obligatory, ritualistic gift-giving that dominates most holidays.
Koopersmith said she wanted to …
“(G)et rid of the 2-faced Holidays where a Person has to SHOW-UP at a relative’s or put on a happy face; or buy a present or do something only because it is part of the Fabric of Modern Life. So I created my own, which I like much better.”
Who can argue with that?
Does National Splurge Day Really Matter?
In a word, no. It’s a made-up holiday. Who cares? People are looking to spend money. And more important, they’re looking to spend money on themselves. As a consumer, this is great news.
On National Splurge Day, you can buy anything — 100 percent guilt-free. There’s no need to think about the message you’re sending, and you don’t have to worry about disappointed reactions from gift recipients.
As a retailer, National Splurge Day also works in your favor:
- Your customers are in a shopping mood, which is always good for business.
- NSD is in June, which is usually a slow period for retailers.
- You can liquidate some of your seasonal or leftover inventory.
With the right approach, National Splurge Day can inject a healthy dose of new sales into your business. Since it isn’t a well-known day, you won’t face much competition as you begin promoting your sales and discounts.
Below are some simple tips to get you started.
1. Discount splurge-worthy items
The first step involves deciding which items in your inventory to put on “sale.” We recommend discounting those goods that people are most likely to buy on National Splurge Day.
Unfortunately, spending statistics tied to National Splurge Day are hard to find since, for most Americans, it is just like any other retail day of the year. Let intuition be your guide.
Survey your inventory for products that shoppers frequently put off buying due to price or timing. Obvious candidates might include big-ticket items such as:
- Designer bags
- Expensive makeup
- Luxury fragrances
However, you should avoid discounting accessories that normally accompany these items. In other words, customers pay:
- Discounted prices for guitars, but full price for picks and carrying cases
- Discounted prices for smartphones, but normal price for screen protectors
The goal is to get folks in the door with your advertised discounts. Then you can generate additional sales once they’re in your store (or on your website).
2. Offer freebies and perks
Want to generate even more foot (or website) traffic? Consider offering free giveaways.
Potential ideas include:
- Free shipping and delivery
- Free samples and gift bags
- Free branded merchandise (i.e., pens, USB drives)
You can even offer gag perks, such as free gift wrapping. Imagine the anticipation recipients will feel as they excitedly unwrap presents they bought for themselves.
3. Update your payment environment
This tip is less obvious, but nonetheless very important.
National Splurge Day is the perfect time to update your current payment environment. It’s a low-stress spending holiday, which gives you plenty of time to test your new configuration as you gear up for more profitable times of the year (such as Black Friday).
- If you haven’t already migrated your POS systems to the new EMV credit card standard, now is the time to do so.
- If you’re thinking about changing payment processors, consider making the switch before National Splurge Day.
- If you’ve recently started using tokenization or hosted payment pages, National Splurge Day is a great opportunity to test these fraud management tools.
Take the Stress Out of Selling on National Splurge Day
Lots of consumers will be shopping on Splurge Day, and you may feel pressure to make sure everything is planned and timed perfectly. Don’t fret. Relax. Remember, it’s a made-up holiday. The stakes are low and no one is judging you. No need to stress.
With just a few minor tweaks, you can make National Splurge Day slightly more profitable than the average retail shopping day. Whatever lessons and mistakes you glean can be applied to next year’s Splurge Day.
However, if you still want help preparing, let us know. Although we can’t tell you which items to discount — or which freebies to offer — we can help you implement payment solutions that make selling on National Splurge Day a breeze.