Tips for Shopping Going Out of Business Sales

The news is abuzz with the news that Toys R Us and Babies R Us are shutting their doors in Puerto Rico and the United States. Parents everywhere are in panic mode as to where they will find all the latest and greatest toys and kid trends in the coming years. But more than that, people wonder how to take advantage of the going out of business sales that began Friday, March 23rd.

These are some things to be aware of when shopping going out of business and liquidation sales.

Return Policy

Many stores modify their return policy when they enter the liquidation phase of their sales. Most purchases will be sold “as-is” with no returns or exchanges available.  If you are purchasing electronics or other high ticket items, ask to open the box and make sure everything is included and in working order.

It is also important to inquire about any warranties on the product and whether they will be honored.  If they will, how do you go about accessing services.

Shop Late in the Sale

There is a lot of money to be made during liquidation sales. As a result, there are a variety of discount games and gimmicks store will play.  In some cases, they mark up the prices of the products, then offer a general discount, resulting in no discount at all.

The real discounts come later in the sale. However, you will also face a limited selection of goods at that point.

How You Pay

ToysRUs.com has listed all the financial policies on their FAQ regarding the US Liquidation.  Important things to note include:

• They are no longer accepting coupons or loyalty points.
• Gift cards will be accepted through April 21, 2018. (You cannot redeem a gift card for cash.)
• If you have items on layaway, you have 21 days to complete the transaction or you will forfeit your right to the product and it will be sold during the liquidation sale.

Shop Smart

Not all going out of business and liquidation sales are created equal. In this day and age, you have the power to price shop in your hands. There are many popular apps for comparing prices. Download them, use them.

The Bottom Line

“You should shop a liquidation sale the same way you shop a normal sale — with caution. By knowing your brands, comparing prices and verifying warranties, you’ll make savvy purchases. Don’t be fooled by the hype: Even bankrupt companies want to make a buck.” The Washington Post