Five deep discount businesses

July 23, 2009 2:55:43 PM PDT
The economic crisis has everyone watching where they spend money. But now may be actually be a good time to make purchases. We are highlighting five types of businesses that are cutting prices and offering good deals.From cars to clothes and furniture, this summer means bargains.

The first place you can save is restaurants, where many places are offering extended Restaurant Week prices at certain times. Many places also offer half-price wine nights to attract extra customers.

And then there's shopping.

"A lot of retailers and businesses have a glut of merchandise or things that they need to move," Wall Street Journal personal finance reporter Mary Pilon said. "And they want to get people in at any price."

Pilon researched some of the best bargains on popular items, like TVs.

"You look at Best Buy and some of the bigger merchants, they have tons of flat screens," she said. "And they want to unload them. They'd rather take a lower price than no price at all."

Need a new car? The federal government's Cash for Clunkers program can shave up to $4,500 off the price of a new car, provided you have a gas-guzzling clunker that can be scrapped.

"The average car we're seeing on the clunker side is 14 miles per gallon," Paragon Honda manager Brian Benstock said. "The average car that we're selling is 25, 26, 27 miles per gallon. It's a substantial difference."

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On to Pier One Imports, where clearance sales are offering up to 75 percent off, and shoppers are biting.

"I think we're finally getting over that whole recession mentality," Pier One manager Annette Cabrera said. "And people are starting to shop more."

J.C. Penney is on Pilon's list. The department store caters to recession-minded shoppers and now carries designer Ralph Lauren's more affordable "American Living" line.

"We call it our value proposition, and that is the styling and the quality and affordable pricing that you get here," store manager Joie Johnston said. "And we've been consistent in doing that."

Now is the time to bargain for for a better price wherever you shop. In lean times, stores just might go for it.



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