Going out of business sale = good deals?
With many businesses failing and having liquidation sales, like Mervyns and Linens-n-Thing, it is tempting to be lulled into a mindset that everything at these sales is a good deal.
But a sale is only as good as its prices are low, even if there are multiple markdowns and neon signs urging you to take advantage of double-digit discounts.
Remember, going out of business sales and liquidations do not have lower prices just because the store is closing down or being liquidated.
What matters is the final price you pay. Keep your blinders on and focus entirely on this number, not how much it once cost. If nobody was willing to buy the item at the higher price, it is not worth that price. In other words, it is only worth what you are willing to pay for it.
Items sold at liquidation and going out of business sales may not be returnable. In my mind, that raises the actual cost because if for some reason the item is not what you thought it was, you have no recourse.
9 Comments
Leave a comment
About The Bargain Hunter
Daily News staff writer Julia Scott loves to find bargains on everything from groceries to Gucci. Her tips will help keep your hard earned cash where it belongs - in your pocket.
My Facebook Profile
I haven't bothered with either store. I tried out the furniture stores this last year that went and the bargains weren't there, so I figure, why waste my gas? That is a factor in my shopping these days! I save for the Camarillo outlets. I have gone with my TCP (children's place) coupon for 20% off and their deals and wow! I have gotten a week's worth of clothes for three children for $125. Now that is worth the gas!
I agree with Reina. I actually went into the Linens'N'Things going out of business sale and walked out almost immediately. Prices seemed to me to be actually more than they were before ... and in addition, the 20% coupons could not be used. I was amazed at the people buying stuff!
The liquidators actually raise some of the prices. I saw a top at Mervyns for 16.99 marked 30% off. I had bought the same top for $8.99 when it had been on sale prior to liquidation. Tennis shoes were really picked over and the prices could easily be beat at Kohl's with a coupon. I will be sorry to see Mervyn's go but to take advantage of the "sale" you almost have to wait until the very last. I reaped incredible sales when Robinson's was closing. I sure wish they had kept that store open and dumped Macy's. Linen's N Things is starting to have good prices but again, like another comment people have actually paid ridiculous prices for these "sale items"
When the first Linens N Things stores had a liquidation sale, I could see new white price tags covering the old yellowed ones, with HIGHER prices than the original.
Buyer Beware!
The Linen's n Things in Ventura advertised 10 - 30 percent off original prices. Everything except curtains were only 10% off. I could have done better prior to the liquidation with the 20% off coupons. I couldn't figure out why people were stocking their carts. I'll check back when the percentages off are higher.
'The Friday after Thanksgiving is known for heavy spending in retail stores, but it's clear that consumers are increasingly turning to the Internet to make their holiday purchases,' said comScore...
I went into linens and things and noticed that the items(all of them) had stickers put over what the normal price was. I couldn't believe it. Items that were normally 19.99 were marked up to 24.99.
I WORKED AT MERVYS DURING THE LIQUATION SALES,AND I WORKED THERE BEFORE DOING THE SALES ADS, WE DID NOT MARK UP THE PRICES FOR THE GOING OUT OF BUSINESS SALES.CUSTOMERS WERE JUST USE TO OUR SALES STARTED OUT AT 40-50% OFF,BUT WHEN THE GOING OUT OF BUSINESS SALES START WE HAD TO START AT 25% OFF, SO THE PRICES DID NOT GO UP WE JUST HAD TO START AT THE RETAIL PRICE SO WE COULD PAY OFF OUR DEBITS AND STILL PAY OUR ASSOCATIES.
I've done some research into how the liquidation sale at Linens 'n Things was conducted (by its purchasers, Hilco). You'll be surprised how long the 'liquidation' was carried on for. After 5 months of 'price slashing', Hilco's Consumer Capital division announced that it would be relaunching the Linens N Things name through several channels (including restocking its website) in conjuction with Gordon Brothers Brands. Check out expose on the Linens 'N Things liquidation sale at http://www.squidoo.com/linens-things-out-of-business