With several large stores closing in the area, you might be tempted to check out the going-out-of-business sales, but are you really getting a deal?
KELOLAND News price checked for you.
Both Sears and Younkers will be closing at The Empire Mall in around a month. If you went to the stores when they first started their liquidation sales, chances are you didn’t get a deep discount.
“Liquidation companies have this down to a science. They know exactly what they need to do to get the most money for their client and to have the most profit for their organization at the end of the day,” Jessie Schmidt with the Better Business Bureau said.
Schmidt says the companies usually put items at full retail price and take a small percentage off.
“Often times you’ll find that the initial liquidation price is higher than the price you could have bought it at a week or month earlier,” Schmidt said.
Several weeks into the sale, how are prices now? Armed with her smartphone, KELOLAND’s Casey Wonnenberg checked it out.
First Casey headed to Sears. She found luggage from Samsonite for $130. It was listed as 50 percent off. If you check online, it is a deal but maybe not half off. Stores that are not going out-of-business list it for $155.
Next up is a Minnie Mouse highchair from Disney Baby. At the store you’ll pay $66. Online you’ll find it for $88 at Amazon and Walmart.
The third item is a two inch memory foam topper from Beautyrest. You can buy the queen size at Sears for $150, but at Walmart it’s listed at $107.
“The deepest discounts are not going to be on the most popular items,” Schmidt said.
Now off to Younkers. A Calvin Klein purse is on sale for around $59. You’ll find it online for $65, so this is on sale. However, it’s not necessarily the 10 percent on top of 40 percent deal you might think.
Onto the clothes section, you can buy a white Calvin Klein dress for $32. This is the best deal Casey found. Other stores sell it for $90.
“There are some bargains to be had, but certainly those are in the last few days and weeks of the store opening,” Schmidt said.
Which means bargain shoppers beware–the best deals will likely be coming in a couple of weeks.
Sears is closing on September 2. Younkers doesn’t have a firm date yet, but it will be sometime around the end of August.