With all the current news regarding striving and faltering stores, considering liquidation sales is a profitable alternative. In the case of liquidation sales, things are not necessarily as they seem, so you will have to keep an eye out for the things below anytime you are at a liquidation sale.
What is a Liquidation Sale? To begin with, liquidation sales are usually managed by a liquidator who purchases the inventory in declining stores and then resells it on their own. Doing away with the goods is really a supplementary goal, at least in the beginning.
The main objective of liquidators is, needless to say, to make all of the profit they can. Therefore, products are not necessarily listed to sell, though eventually after some time they will simply want to get rid of their current inventory which means you can snag it for a cheap price.
Know the Real Price: To be able to offer a noticeable price cut, liquidators actually increase costs above the manufacturer’s suggested retail price before listing any discount rates. Therefore, despite having a 10% discount, you may find yourself having to pay a lot more for the product than you might have before the sale began.
Since sales usually run for a few months, the liquidator has enough time to target consumers who do not know any better and make huge profits by offering small discount rates on overpriced items.
When they finally get right down to real discounts, the majority of anything that you really wanted in the first place is going to be long gone. One more problem is that, since the store is not going to exist soon, all product sales are usually final.
This means that, if you find that you have problems with your purchase, you will have to address the manufacturer instead of taking it back to the store.
Helpful Advice for Getting the Most Out of a Liquidation Sale: For anyone that is considering buying products from a liquidation sale, below is a list of a few guidelines to get the most out of your shopping experience:
- Use a Credit Card to Buy: This is especially true for goods that will be shipped. In the event that your goods never arrive, you are able to go through your card company to get your cash back.
- Watch Out for Extended Warranties: You need to be cautious about extended warranties. When it comes to liquidation sales, you need to be a lot more careful, as the guarantee might outlive the vendor. In many instances, it is probably best to just depend on the manufacturer’s extended warranty, which is not affected by the merchant’s shutting down.
- Do Not Go to a Sale for the Sake of It: It is easy to be caught in the thrill of a sale and make buys that you will later on regret. The issue here is that, as mentioned above, liquidation sales are usually final and you will not have a chance to re-think your choice and return the item.
- Check if You Have Gift Cards: Considering that the business is going out of business, time is running out for you to use your gift card. If you do not spend it before the liquidation sale comes to an end, your gift card is going to completely useless.
- Research: Although it is possible to get a good price, it is just as likely that you will lose money. If you know what you would like to purchase then there is absolutely no reason for not knowing just how much you can get the item for somewhere else. This is especially important for those who want to resell the items themselves.