The practice refers to the heavily discounted, almost nominal, pricing applied to select discontinued or overstocked items within a major home improvement retail chain. The extreme reduction in price, often to one cent, serves to remove these articles from the inventory system efficiently. For instance, a discontinued tile or an outdated model of a tool might be marked down to this minimal price to expedite its removal from store shelves.
This clearance strategy benefits both the retailer and the consumer. For the retailer, it allows for streamlined inventory management, freeing up valuable space for new merchandise and reducing carrying costs associated with unsold goods. Consumers can, on occasion, acquire usable products for virtually no cost, representing significant savings. Historically, dedicated bargain hunters have sought out these deep clearance deals to maximize their purchasing power.
