Financial Wellness
6 Tips to Score Outlet Shopping Bargains
What are the best things about outlet shopping? Amazing sales, deep discounts and significant savings are all conveniently available in one place.
But how do you know if you're getting a great deal at an outlet mall? Here are a few tips to maximize your savings on your next outlet shopping adventure.
But how do you know if you're getting a great deal at an outlet mall? Here are a few tips to maximize your savings on your next outlet shopping adventure.
- Know the outlet. Research the outlet center online before you go so you know what stores are available. You can also get an idea of what types of goods may be available and print or download any coupons. Some outlets even offer outlet club memberships, where you can join to build points for purchases, receive exclusive coupons and receive sales alerts.
- Compare prices online. What are you looking for and what is the retail price? A quick Google search might give you an idea if you're better off shopping online or going to the outlet. Outlet store operators know that shoppers are looking for deep discounts and may tag items with a high "regular" price—only to mark them down. Even though the sign may say 65% off, it is unlikely a serious shopper would ever have paid the retail price anyway.
- Try everything on. Given outlet stores' strict return policies, it's important to make sure clothing items fit as you wish. Some items end up at the outlets because there was a manufacturing mistake, such as a misplaced button or pocket. Many retailers have lower-quality items manufactured specifically for their outlet divisions, so some materials may be thinner, or a jacket may not have a full lining, for example.
- Shop closer to home. Outlets are often placed in faraway locations. If an outlet is a long drive away, you may be tempted to buy everything you see to justify the trip, or because you probably won't return any time soon. If it's within a shorter distance, you may be inclined to think twice on some items. Don't be afraid to walk away.
- Use coupons with caution. Nothing beats a coupon, but sometimes it will only be for the regular Gap store, for example, and not the outlet Gap store. Read the fine print, and don't be afraid to double-check with a sales associate before browsing.
- Hit the clearance rack. Like most retail stores, outlets are designed with higher-priced merchandise up front, and clearance racks toward the back of the store, or in the corners. Your best deal might require a few extra steps but could be well worth it.
Resources: Forbes; Moneycrashers.com, AARP, Money Talks News, Wall Street Journal, U.S. News