Retailers, consumers and prices
Everything you ever wanted to know about liquidation sales
Ever walked out of an out-of-business sale hoping to return when the discount gets even deeper? Ever found your much-desired bargain-priced pair of shoes or television set already snapped up by an early bird?
With so many U.S. retailers going out of business and many having liquidation sales (Circuit City, Goody’s and Linens ‘n Things are three recent examples) savvy consumers should prepare in advance to get a good deal amid all the chaos.
So, what do we do? Check out ShopSmart’s five quick tips to make the best out of liquidation sales.
Always check prices at local stores before buying something at a liquidation sale. Sometimes, they slash prices to tackle threats from their rivals that have gone kaput. Plus, it doesn’t hurt to do business with a store that might be around for a while, does it?
Do your homework before you go shopping at one of these sales. Warning — you might not find the sales staff very helpful. Many liquidators tend to employ not-so-knowledgeable sales staff, simply because that’s all they can afford. And yes, don’t expect your cheap television set to be shipped home. You will most likely have to do it yourself.
Remember to check the warranty on the product. Whether it’s issued by the maker or a third party, it should still apply after the store goes out of business. Nevertheless, you might still want to call the manufacturer to confirm, especially if the brand is not one that the retailer normally carries.
Channel your inner Poirot. Inspect the item thoroughly before shelling out those valuable bucks. Check for defects, and make sure the product works. Remember, sales are final so you won’t get a chance to return or exchange it.
Finally, pay for the goods using your credit card. This way, you always get a chance to dispute the purchase through your card issuer incase of a problem.