9. Shop in clearance areas

Did you know many stores have a detailed mark down process for items and a specific clearance area to sell those items?

I do know most stores have a clearance area.

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Every retailer has one problem in common; many items they sell are either discontinued, viagra 40mg purchased and returned, have new and improved packaging or are one time purchases. When these situations occur, the last item or two typically is marked down for quick sale, because the new product needs to be “merchandised” (this is the term retailers use for placing products in their stores). This problem is good for savvy shoppers!

Being attentive and learning how stores operate is the key to finding these deals! Every company is different but I will give you several methods of which I have learned. The first and most typical is an actual clearance area in an obscure area of the store. The easiest way to find these areas is to ask one of the managers in the store. Many employees may not know where or if there is a specific clearance area. The second, and more difficult spot, is using a different colored tag. One store I am thinking of specifically uses a yellow and white tag to indicate everyday  prices and a white tag for mark downs. The third and most difficult is if the cost reduction is indicated by the numbers in the price. Survey the prices for this type of store, the last numbers of the price are usually the same, such as 8 or 9. The marked down products will have an entirely different number at the end of the price, such as a 1!

For example, let me share my last experience using this method. I was at my favorite store in the whole world, I am not going to mention a name, but you have to show a card to get in, and I strolled directly to the clearance area as I always do. Upon arrival, I found, what I thought to be, a fantastic deal. A Honda Black Max, self-propelled mower was in a box and had been used one time. The original price was $299, and was marked down to $209! This thought ran through my mind; “The mower is almost 33% off for the initial price for someone else taking the time to set up the mower for me! SOLD!!!” I do need to share some back story because I do not make large purchases regularly.  I owned two  push mowers already (one I had purchased 12 years earlier at this particular store and was in the clearance area as well) that I could sell. My total cost ( I sold the other mowers pretty easily) ended up being $60 for a brand new Honda mower!!!

Is it possible to use this idea for every purchase? Maybe, but I will make one promise. If you do not try, you never will make it work.

Make sure also to watch for our next Savvy Dads webinar June 2nd. It is FREE and Ken Canfield PhD will talk about Dads & Daughters with special guest Maurice Hilliard!!! Click here to register.

Tuesday, May 24th, 2011 Financial concepts

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