Clearance Section: Min/Max/Mode Starting Prices

For all Clearance merchandise, you will collect the min/max/mode original starting price. There are two types of Clearance markdowns - New Price and Percent Off.

It is important to look at both Clearance signage and the price tags to be certain you collect the correct markdown type and markdown prices.

1. Clearance: New Price

It is likely that most of the Clearance merchandise will be marked down to a new price.

Items with price tags or stickers showing a markdown to a new price fall into this category.

Here are what new price markdowns might look like in the store:

Since a lot of the Clearance merchandise will be subject to this type of markdown, we've created price buckets to lump the products into. This will help you to avoid noting every single variation on original/new price.

Please note that the price bucket is based on the current selling price, not the original price.

The Min/Max/Mode Starting Price will be higher than the price bucket price because the starting price is *before* the markdown. As you sort through the items on the rack, you will lump them into a price category per the grid below:

For example: Dresses could be $60 originally and on promotion for $30. These would be lumped into the $30-39.99 price bucket with the original price ($60) listed under the appropriate min/max/mode column.

The survey would be filled out as follows:

2. Clearance: % Discount

This discount type works the same as Clearance: New price, but instead the buckets are by the % discount. For example, if a pair of pants in the Clearance section was originally $50 and the tag indicated that it was 15% off, these pants would be added to the "10-19% off" bucket in the grid. There is no need to do the math to figure out what the new price would be.

Again, it only counts as a % discount if the rack or tag specifically says "x % off" - if the sign says "up to 25% off" but the tags have new prices on them, this is a Clearance: New Price rack.

Here is an example of what that discount grid will look like: