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Warm: The Wiz going out of business sale

ultimatebob

ultimatebob

Lifer
The Wiz (A chain of electronics stores in the New York, New Jersey area) are going out of business, and having a big liquidation sale. Everything in the store (TV, stereo, CD/DVD, and computer equipment) will supposedly be discounted at 20 to 40% off this weekend.

These guys sold a lot of nice high-end stuff like Plasma TV's and laptop computers, so you might find some bargains if you're lucky.

Edit: They still have a decent collection of CD's and DVD's available at 40% off. I was able to pick up a copy of Spiderman for $12, which is a pretty good deal.
 
My experience has been that by the time the sale is advertised, there is usually nothing of value in the store anymore. Its would be a waste of time to go to Wiz to find deals, when 20 - 40% discount on their prices are still higher than what you can get through web venders. Besides, the stores are usually in terrible shape and trashed, so its not a very pleasing environment either.


Heifetz
 
Ditto that. You have to be a very smart shopper to find something resembling a bargain even now in The Wiz' final days. I parsed through the store when the markdowns were 10%-30% and found no compelling buys. Even the Macintosh computers (and Macs are never discounted) were questionable bargains because at least some of them were old models being marked down from new model prices. No smoke, no fire, nothing hot.

Steve
 
Yes, I went by the Union Square Wiz a couple days ago... nothing to get excited about.. even laptops with missing keys werent being heavily discounted. You might get a mild bargain on some console games or batteries or something but nothing hot.
 
they jack up the price and then put up 40% sale.
it's cold imo and that's the last place i'd buy electronics from.
i'm not surprised they are going out of business
 
Originally posted by: isekii
they jack up the price and then put up 40% sale.
it's cold imo and that's the last place i'd buy electronics from.
i'm not surprised they are going out of business
Click to expand...

Ditto... their sale prices are retail prices at any other store. So 40% = mebbe 5-10% off in another B&M. Compare it to any other B&M and they suck @$$. The only thing I ever bought at the Wiz... my Optimum Online.
 
Everyone beats the Wiz...Everyone.

As to the going out of biz sale: These sales are almost always held by clearance experts who buy the inventory of the store, in place, and then sell it off. The company that owned the Wiz is almost certainly no longer involved in the sale. There are only a modest number of these clearance experts, and they run a lot of the going out of biz sales...They have the pattern down pat: Raise all prices to full retail, then start the clearance at 10% for anything of value, 20-40% for hugely overpriced and/or undesirable merchandise to you can advertise the higher percentage as a hook to bring people in. Typically, if a store has a jewelry dept, that will get the high value (no big deal, since 3x is the typical markup on jewelry...). There are no bargains in these sales unless something falls under the radar (gets lost in the back until late in the sale, for example). The guys having the sale are not "gotta move it at any loss" motivated, even though the people shopping in these stores think they are. Nope, they are "maximize the profits on this stuff" guys. And I can tell you that they are absolutely RUTHLESS in maximizing profit.

Kwad
 
Well, I have a happy story here. A few years abck the Wiz in Albany went out of biz and I spent around $50,000 there. Of course I ebayed everything but some monster cable and made a killing, but there are deals to be had. The downside is that you have to wait until the percentages drop as indicated above.
 
Originally posted by: Heifetz
My experience has been that by the time the sale is advertised, there is usually nothing of value in the store anymore. Its would be a waste of time to go to Wiz to find deals, when 20 - 40% discount on their prices are still higher than what you can get through web venders. Besides, the stores are usually in terrible shape and trashed, so its not a very pleasing environment either.
Click to expand...

I went to the WIZ on Wednesday and this was my exact experience. I didn't buy anything.

 
I think it's pretty cold when a chain is going out of business. It indicates the economy is still pretty bad and more people are going to be out of jobs and compete with the tiny job market today.
 
they been trying to go out of business for 10 years now.. those of us that live in ny for more than 20 years..

after those cablevision guys took over... omg.. they're shady
 
Originally posted by: Kwad Guy
Everyone beats the Wiz...Everyone.

As to the going out of biz sale: These sales are almost always held by clearance experts who buy the inventory of the store, in place, and then sell it off. The company that owned the Wiz is almost certainly no longer involved in the sale. There are only a modest number of these clearance experts, and they run a lot of the going out of biz sales...They have the pattern down pat: Raise all prices to full retail, then start the clearance at 10% for anything of value, 20-40% for hugely overpriced and/or undesirable merchandise to you can advertise the higher percentage as a hook to bring people in. Typically, if a store has a jewelry dept, that will get the high value (no big deal, since 3x is the typical markup on jewelry...). There are no bargains in these sales unless something falls under the radar (gets lost in the back until late in the sale, for example). The guys having the sale are not "gotta move it at any loss" motivated, even though the people shopping in these stores think they are. Nope, they are "maximize the profits on this stuff" guys. And I can tell you that they are absolutely RUTHLESS in maximizing profit.

Kwad
Click to expand...
True. Very true. I think there is one key ingredient that the "clearance experts" use -- lots of signs with neon colors as the background. If you see any signs that have neon-colored backgrounds, run as fast as you can ... away.


 
I went into one of the stores last week and discovered that their so-called clearance prices were higher than everyday prices on the same things at other stores. What else would you expect from a retailer owned by a cable company though?

Good riddance to this useless chain. It would be great to see Frys come to the east coast and take over some of their locations.
 
Can we petition Fry's to come to the East Coast ? We fellas spend good money too !

Originally posted by: BMdoobieW
Good riddance to this useless chain. It would be great to see Frys come to the east coast and take over some of their locations.
Click to expand...
Click to expand...

 
The only good thing about THE WIZ going out of business sale, (besides the fact they are going out of business...😉 ) is that they accepted my GC from the Toyota test drive last year....🙂
 
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