Shopping end-of-summer sales typically involves stocking up on warm-weather gear like swimsuits, shorts and anything made of cotton or linen. The same rules apply this summer, with two welcome exceptions: Discounts are deeper than usual, and more versatile product is up for grabs.

Most major retailers, from Nordstrom to Macy's to Neiman Marcus -- are offering unprecedented deals. Despite a hefty decrease in overall retail inventory, there still aren't enough consumers doling out dough for new duds.

July's Consumer Confidence index was down to 46.6 (out of a possible 100), a 5.5% decrease from June, according to the Conference Board's monthly survey based on a representative sample of 5,000 U.S. households. Retailers' numbers reflect that sentiment: Luxury department store Neiman Marcus reported a 27.3% decline in July sales for stores that have been open for at least one year. J.C. Penney same-store sales declined by 12.3% in July. Target's July sales were down by 6.5%. And fine jeweler Zale closed 118 stores--out of 2,000--in the past three months.

Bad as such news is for retailers, it's good news for consumers, says Marshal Cohen, chief industry analyst at Port Washington, N.Y.-based research firm NPD Group. "Consumers can take advantage of both clearance and pre-season sales," he says.

Wardrobe Enhancement Opportunities

At Nordstrom department stores nationwide, shoppers will find a selection of shoes, apparel and home goods marked down by 33%-60%, including early fall merchandise like Calvin Klein's capped-sleeve cocktail dress--$104 from $158--and Elie Tahari's finely woven wool jacked for just $186. That's 60% off of the original price.

What's more, Nordstrom Rack outlet stores are hosting their mid-month New Arrivals event, which features merchandise from Nordstrom's traditional stores, but discounted by at least 50%. Katherine Finney, founder of discount shopping blog The Budget Fashionista, says that right now, outlet stores like Nordstrom Rack and off-price retailers such as Filene's Basement, Ross and TJX Cos.-owned TJ Maxx have some of the best current-season deals on offer.

At Filene's Basement, for example, savvy shoppers can dig for everything from Dolce and Gabbana dresses--marked down by 80%--to St. John suits. Finney also says that these retailers typically carry a lot of discounted designer denim, an essential element for fall. Furthermore, "trends are not that different from last year," says Finney, meaning that this year's sale items are not out of fashion.

While apparel prices remain attractive, those on the hunt for back-to-school tech toys will find that the discounts aren't as plentiful when compared to holiday fire sales. However, some big box retailers--including Target--are offering markdowns on a few of their most popular products. Through Aug. 15, Apple's 1GB iPod shuffle is $45, marked down from $100, while the Nintendo DS is just $99, discounted from $130.

Same goes for home goods. Modern furnishings store Crate and Barrel, for instance, has plenty of summertime supplies on sale, from barbecue sauce to outdoor furniture. But it's also offering deep discounts on everything from flatware--including a five-piece set for $15, marked down from $37--to accessories, like the "Shesham" wooden magazine rack, reduced by 50% to $30.

All in all, there are deals to be had on just about everything--not just sun block and swimsuits. The key is to "do your homework," says Cohen. Call your favorite store, ask about what's on offer and compare prices online.

In Depth: Best End-Of-Season Sales

Nordstrom and Nordstrom Rack

Now - Until Supplies Last

The mid-market department store just wrapped up its annual Anniversary Sale, but there are still plenty of deals to be had. Shoppers will find a selection of shoes, apparel and home goods marked down by 33%-60%, including early fall merchandise like Calvin Klein's capped-sleeve cocktail dress--$104 from $158--and Elie Tahari's finely woven wool jacked for just $186, 60% off the original price. What's more, Nordstrom Rack outlet stores are hosting their mid-month New Arrivals event, which features merchandise from its traditional stores discounted by at least 50% off of the original price.

Macy's

Now - Until Supplies Last

While those on the hunt for back-to-school steals will find 50%-75% discounts on clearance clothing and shoes, the department store's best offerings are in the home department. Select Calvin Klein Home blankets are marked down from $350 to $86.97, while Martha Stewart Collection beach towels are just $15.99 from $40.

Athleta.com

Now - Until Supplies Last

This Gap-owned e-commerce site carries workout gear for women. During its end-of-summer sale, swimsuits are discounted by up to 70%, a wicking tricot zip-up is marked down from $84 to $50, and pointelle pajama pants are slashed from $70 to $40.

Bergdorf Goodman

Now - Until Supplies Last

While there's just one one brick-and-mortar location, those who wish to take advantage of the venerable New York City luxury department store's annual BG Sale can find deals online, including 75% off designer duds such as Armani Collezioni men's textured pants--marked down from $455 to $228--and Jimmy Choo high-heel gladiator sandals, marked down to $358 from $795.

Lord and Taylor

Now - Until Supplies Last

Lord and Taylor's Last Chance Sale includes up to an additional 50% discount on already-reduced merchandise, such as Ralph Lauren children's wear and handbags from brands like Cole Haan and Kenneth Cole. Cynthia Vincent sandals are marked down to $90 from $250; Polo Ralph Lauren's classic polo is $24, from $65.

Neiman Marcus

Now-Until Supplies Last

The high-end retailer--whose July comparable store sales were down by 27.3%--needs to rid itself of stock. That means significant markdowns for shoppers, including 50% off Rebecca Taylor's trendy sateen jumpsuit ($150 down from $300); 55% off John Varvatos' cotton herringbone jacket ($583 from $1,285); and 55% off Delman's suede bootie ($112 from $250).

Click here to see the Best End-Of-Season Sales