4 Ways To Save at Bin Stores
Attention shoppers: You have a new way to find bargains now! Bin stores are opening nationwide to give you a chance to score the ultimate deal on the items you want.
Don’t worry if you’re unfamiliar with this shopping trend. Read on for everything you need to know so you can make the most of your bin store experience.
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What Is a Bin Store?
Trae Bodge, smart shopping expert at TrueTrae.com, said, “Bin stores are typically retail spaces that carry returned or overstocked merchandise.”
“You can find items from [major retailers] like Target or Amazon for a fraction of the price,” added Athena Valentine Lent, budgeting expert and author of Budgeting for Dummies.
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How Do They Work?
Lent said that bin store owners buy pallets of merchandise from retailers and hope to turn a profit despite selling the goods at a steep discount. Generally, shoppers have to sift through bins of items to find what they want, hence the name “bin store.”
Each week, the store closes for one day and receives a new shipment. The next day, it reopens and sells the products for the highest — but still heavily reduced — price. Then, the cost of each unsold item drops daily, until the store gets the next batch of merchandise.
What To Buy
Bodge said the nature of how bin stores operate makes it difficult to know what to buy. “You never know what a bin store will have in stock. [However], I would suggest focusing on things that you need or things that someone might enjoy for an upcoming occasion, like a birthday or graduation.”
How Much You Can Save
Lent said bin store deals vary by item, “but you can save a few dollars all the way up to a thousand.” She shared this story: “Recently, my friend bought a new house and was using a bulk bin store to furnish and decorate it. She bought a Target Anthropology [look-alike] mirror, new linens for her four bedrooms, towels, a new patio furniture set and decorations for her kitchen and living room for $400. If you’re a Target snob like me, you’d know that she most likely saved between $700-$1,000.”
Pro Tip
“Items should be significantly discounted at bin stores, so take the time to search for items on your phone to get a sense of the MSRP to ensure that you are, in fact, buying [goods] at a steep discount,” said Bodge.
What Not To Buy
“I’d be careful with food and other products that have an expiration date. I’d also be careful with electronics — check to see [that] they are not broken or have missing wires — and toys that could have missing pieces,” said Lent.
“Also, check for the quality and to see if there is a blemish on the item. For example, I found the most beautiful glasses for my upcoming bachelorette party but then realized everything on them had been printed backward. Items can also be crooked, slanted in a weird way or just break easily.”
Bodge warned, “Keep in mind that any manufacturer’s warranties will likely not apply. It is also wise to ask about return policies before buying. You wouldn’t want to purchase something and then find that it is damaged but that the sale is final.”
Bin Store Shopping Tips
Here are a few bin store shopping best practices:
Have a shopping trip objective. While you may not be able to shop from a list, know why you’re going to the store. Is it to find a birthday gift for your niece or get new home décor?
Set a spending limit. That way, you won’t bust your budget to get a bargain.
Bring cash with you. Some bin stores may not accept credit cards. Plus, sticking to cash can help keep your spending in check.
Be proactive. Get to the store early in the day and jump on the best deals you find. Chances are, the items you want won’t be there tomorrow.
Bonus Tip
Don’t be afraid to haggle. If it’s the day before the store restocks, management may be willing to give you an even better deal than what’s marked.
Remember the Goal
Shopping at a bin store can be quite a rush if you love getting a deal. However, you still need to be intentional with your spending and avoid mindlessly burning through your money.
Remember, just because something’s cheap, doesn’t mean you should buy it. Inexpensive purchases add up and can completely negate any savings you realize from a single bargain.
Pro Tip
Look at your bin store visit as a potential money-making activity. Lent said, “Whenever I go, I see a lot of women in the purse bin looking for [name-brand] items they can flip on Etsy or Poshmark!”
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