Kmart has started liquidating its inventory before closing its doors for good this summer, a move often seen as a guarantee to save big.
However NBC Connecticut Responds found, in some cases, the only thing guaranteed when searching for good deals on liquidation is the promise of doing extra math.
A few days before Putnam’s Kmart began liquidating, the store advertised a 32-inch LED TV on sale for $199.
That same TV was 20 percent off during liquidation, however, it was 20 percent off its MSRP of 240 dollars—saving buyers less than five percent from both its previous price and competitors' prices online.
“You have to be kind of careful with these liquidation sales,” said exert Kyle James, who launched Rather-Be-Shopping.com to help consumers save money.
“[Consumers] hear that word “liquidation” and shoppers tend to think, ‘Oh my God, they have great deals, they’re getting rid of everything.’ But in most cases the prices aren’t very good.”
Kmart also had an electric range on sale a few days before liquidation, priced at $298.
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Once liquidation started, the same range jumped to 100 dollars more. Kmart advertises it as 25 percent off of its MSRP.
NBC Connecticut reached out to Sears, Kmart’s parent company, but they did not comment specifically on the price changes.
Sears did confirm it expects to close its unprofitable Putnam Kmart by late July.
James notes, the sales may get better in the weeks before its closing.
He also advises consumers inquire about return policies and warranties, since those details tend to change during liquidation.
And above all, James says, do some research.
“I love the Shop Savvy app,” said James. “You can actually scan the bar code when you’re standing in the aisle and it can actually tell you if it’s cheaper online, or cheaper down the street.”
