With retailers going out of business and liquidating merchandise weekly, you might be inclined to check out some ‘store closing sales’ in your area. Liquidation sales are a great opportunity to score deals on discounted items that you can give as gifts during the holidays. Buyers Beware: Before you begin crossing gifts off of your shopping list, be sure you’re not overspending on liquidation merchandise… Don’t be fooled by ‘store closing’ sales, here’s how to spot a “real deal”
Check Prices Online Before You Buy
Stories of retailers jacking up prices before putting them on markdown are becoming all too familiar… While we hate to think that retailers would do such a thing, it is completely possible. Remember: stores under liquidation are trying to pay their creditors back during these tough times. Therefore, always be aware of the original retail price of an item (before markdowns,) to understand if, after the markdowns, you’re getting a ‘real deal’. A quick search using your smartphone on Amazon or the retailer’s e-commerce site can quickly help to clarify the pricing of an item before you buy it.
Avoid Buying Major Appliances, Electronics and Warranties
During liquidation sales, return policies and warranties become void almost immediately. Rather than dealing with the hassle of damaged or faulty electronics and major appliances after you’ve brought them home, we recommend avoiding buying these types of items altogether.
Pro Shopping Tip: Gift cards (like warranties,) won’t be worth a dime once a store closes its operations. If you’re holding onto a store gift card (or credit,) use it ASAP before you lose out on spending it.
Wait until the Last Few Weeks Before Closing to Shop
Most liquidation sales follow a staggered discount format. Week 1 of liquidation sales will see shelves stocked with merchandise and only a 10%-20% price reduction. While several weeks later, the discounts will increase closer to 50%-70% off and the quantity and quality of merchandise remaining in-store will dwindle. With that being said, you get the very best liquidation sale deals in the 1-2 weeks before an actual store closes its doors. While most stores won’t tell you the exact date they are closing, this is always worth asking in order to coordinate the best time to make a return trip back to the store to take advantage of the biggest markdowns.
What shopping tricks do you use to spot a real deal?
Featured Image: Cristina Avila
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