Shopping on High Street.
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What’s on the price tag is clear… but is that really what you have to pay? Haggling – once a skill reserved for holiday destination gift markets and used car lots – is now on the increase in a whole range of shops from Kohl’s to Office Max. As the global economic downturn continues to bite, more and more people are find that it’s worth trying to crank the price down a notch or two. Founder of MoneySavingExpert.com Martin Lewis said: "People need to adopt a ‘don't ask, don't get’ attitude. There are real rewards for charm and chutzpah. There's nothing wrong with asking for a discount." That’s all very well, but for most of us the very idea of asking seems scary. However, the very worst that can happen is that they say no and you leave the shop empty handed. Here are a few tips for successful negotiation.
Don’t care what anyone thinks
Most people are put off haggling because they are embarrassed. However, the chances are you’ll never see most of the people in the Urban Outfitters again, so what have you got to lose?
Consider your target
Have an idea which shops are likely to haggle and only try to negotiate over a bigger priced item. It just isn’t worth anyone’s time to try to lower the price of something small and cheap. Equally if the price is already rock-bottom there is unlikely to be any room for movement. Some shops are more likely to be flexible on price than others. Furniture outlets, such as Wayfair, and DIY/craft stores, perhaps like Woodcraft Supplies, are more approachable. Equally independent stores where you are talking to the owner are a better target as the person you are negotiating with has the ultimate power.
Prepare and research
Know the item you are haggling over. What is a reasonable price, is the one in question expensive? Arm yourself with information about the same and similar products. How much and where were they on sale?
Understand how it works
Start with the best price you would ever hope to pay for an item and work your way back to a reasonable price you can settle one. The age-old techniques of haggling haven’t changed over the millennia. Also the higher the starting price of the item the more leeway there will be for the price to shift.
Prepare to pay cash.
The fact that it’s cash may influence your retailer to drop the price. Some experienced hagglers only put the money for their ideal price in their wallet or purse with extra money hidden in another pocket or with an accomplice. That way they can pull out all their money and say “that’s all I’ve got, can I make a deal with you?”
Pay by cash when haggling.
by 401(K) 2013 via Flickr (CC-BY-2.0)
Play the game
Don’t appear desperate, in fact, look as though you could walk away from the deal if the price isn’t right. Continue the charade by pretending to talk to a friend or partner – have a fake phone call if you must. Suggest that the person you’ve been speaking to – parent/wife/partner – is allowing you to buy it but only at a lower price.
Find some flaws
If you can find a flaw, however minor – a mark or scratch – on the product, you can use that to your advantage as you try to persuade the seller to meet your ideal price. You could make it seem like you are doing them a favour taking the ‘damaged’ product of their hands at a low price.
Get a bonus
It isn’t all about the price. Try to get some free items included in the deal such as batteries or a warranty. When you add up the total, you might find you’ve got an excellent deal but it has been easy to secure than a cold, hard price cut.
Pick your moment
Never haggle when there’s a queue. The annoyed customers will not improve your chances of success. However, haggling towards the end of a sale or at a time such as just before Christmas might work in your favour. Time your negotiations just as a new model of the product you want is going on sale.
Check your receipt
Right at the end, make sure that the product you’ve bought is exactly at the price you negotiated.
Play nice
Be polite and friendly. Don’t lose your temper. If the shopkeeper refuses to deal, just smile and accept it.
