For shoppers on a very strict budget, clearance sales due to store closures can be a lifesaver, but there are a few things that you should know before jumping in. Understanding the nature of clearance sales can help you make more informed choices and save you from disappointments. Knowing will help you navigate the experience more effectively and hopefully save even more money without the headache.
To help you, we’ve listed nine things every shopper should know about clearance sales from closing stores.
1. Time Your Purchase Wisely
When a store announces it’s closing, the first few days of the clearance sale can be misleading. This is because liquidators often mark prices up before applying discounts. This strategy creates the illusion of a sale but inflates the starting price.
Savvy shoppers benefit from patience, as prices usually drop gradually, sometimes reaching discounts of up to 80%. However, waiting too long risks missing popular items that sell out quickly. To balance timing and availability, monitor the sale regularly and consider seasonal clearance cycles for maximum savings.
2. Inspect Items Thoroughly
Often clearance sales will be a mix of their regular inventory and items that have been damaged, like an open-box return, or ruined packaging. Because the vast majority of these sales are final with no returns or exchanges, you will want to be extra diligent about checking every item before buying.
For clothing items, try it on to verify that they fit and are in good condition. For electronics or appliances, have it tested in the store. Be very attentive to visible damage, missing parts, or visible signs of wear.
3. Research Current Market Prices
Prices in clearance sales can be deceptive. Closing stores sometimes inflate prices to make the markdowns appear more significant. It’s always better to check online on your smartphone the prices from competitors so you can compare it with the current clearance sale price.
Additionally, you can also peel back the price stickers to check if there are hidden higher prices underneath. Some stores use this to exaggerate discounts. While it seems over the top, doing this makes sure that you aren’t falling for a marketing tactic and avoids paying more than necessary.
4. Prepare for Limited Stock and Sizes
Inventory in closing stores is finite and often picked over by early shoppers, leaving you with limited options as the sale progresses. Stay flexible with your size, color or models, and remember your must-have items.
Having a complete list of the items that you want can help avoid getting distracted. Also remember that you probably won’t find everything you want. It’s always better to look for alternatives or maybe plan to go to multiple retailers. The more flexible you are, the more likely you’ll discover good deals even with limited selection.
5. Understand Payment and Warranty Limitations
When shopping at clearance sales from closing stores, be aware that payment options may be limited. Some stores stop accepting certain credit cards or store-specific payment methods as they wind down operations.
Also, the standard warranties could be voided or shortened to 0-30 days after purchase. This happens because the store might not have proper manpower to manage warranties once it closes. Knowing the limitations of your purchase ahead of time can save you from any surprises and help you feel more comfortable with the terms and status of your purchase.
6. Haggle When Possible
Some retailers may be willing to negotiate on items that have been damaged, are found to be defective, or are overstocked. If so, don’t be shy to directly ask for lower prices when you highlight the damage or pricing discrepancy of the items.
While not all stores allow bargaining, you never know who’s willing to reduce prices further to clear their inventory fast. It never hurts to ask. But when negotiating prices, always be polite and professional. Remember, a friendly attitude can go a long way.
7. Look for Hidden Deals in Gift Cards
Discounted gift cards for closing stores are often sold online for lower than face value. Gift cards give you an additional way to save money at clearance sales. There are websites you can go to that sell gift cards at a discount, which you can combine with the clearance sale prices for better savings.
But before getting gift cards, make sure to check with the store if they’ll be accepted. Some stores prioritize cash flow and will change their policies about gift cards. In general, strategy can stretch your budget further during liquidation sales.
8. Be Ready for Crowds and Chaos
Closing store sales attract many bargain hunters, leading to crowded, hectic shopping environments. Shoppers should expect long lines, crowded aisles, and possibly limited staff assistance.
If you remain patient and organized, you can work through all the chaos and avoid becoming frustrated, so you can put your full attention on purchasing the best deals. When preparing for one of these sales, it also helps to bring a buddy or go during a quieter and off-peak time of day when it is possible to avoid the stress.
9. Stay Informed About Possible Inventory Changes
Instead of making multiple trips, keep yourself updated on the clearance sale by following the store’s announcements or social media channels. Many closing stores send out updates on new markdowns, special promotions, or inventory changes online. Knowing what to expect can help you strategize your shopping trip for the best deals as they become available.
For example, stores may offer online clearance options or allow loyal customers to know when they have a flash sale. Knowing about these offers beforehand can limit how often you need to visit in person. Being proactive with information helps you maximize savings while minimizing time and effort.
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