Retailers, consumers and prices
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?
Over the past few years, gift card popularity exploded and retailers rushed to display new merchandise the day after Christmas, hoping to attract shoppers flush with new cards.
Retailers could count on consumers to splurge on full-priced merchandise or spend all the money on the card, plus a few dollars more.
As part of the Chapter 11 bankruptcy petition filed in May, home goods retailer Linens ‘n Things said it would close underperforming stores.
The chain — which sells home goods ranging from furniture and window treatments to kitchen gadgets and bedding – said on Monday it only plans to close 57 underperforming stores, instead of 87 as it had previously disclosed.