How to Bargain Wisely

Bargains are everywhere nowadays especially this time of recession. There are a lot of price drop off because consumers are tightening their budgets to survive the crisis. You can go to your favorite bargain store or you can also shop online through auctions such as EBay.

You might just be surprised how many salespeople will drop a price or sweeten the deal to get your business. You just have to ask for them. So I am enlisting some tips to increase your bargaining power to get the item that you want without spending too much.

Increase your negotiation skills and get great deals on almost everything.

Don’t be shy. In a culture of bar codes and price tags, it might seem strange to haggle over prices. But once you take the plunge, you may be surprised how many sales reps are willing to deal. A gentle inquiry like “Is that your best offer?” or “Is that your last price?” may drop the price at electronic stores, vegetable stands, reservation desks, and clothes boutique.

Enlist some aid. Ask the salesperson for help. Play a little dumb, and your question will not elicit a negative response. Explain it in terms of need. Mix it with emotions and courteously ask for a bargain. You have a need to buy the product but the salesperson has a need to make a profit. Don’t see the salesperson as an adversary. See them as a partner in solving your problem.

See beyond the “no”. Often little kids will persist to their parents if they want something. In Filipino, we call them “makulit.” We can get a little bargaining skill from them. Kids know how to negotiate. They aim high and don’t stop asking if they get a ‘no’. Persevere for that price drop off.

Ask the right person. The average sales clerk makes an hourly wage and doesn’t usually have authority to dicker over prices. Ask to speak with a floor manager or a salesperson on commission. They are much more likely to make concessions to please a customer.

Know your stuff. Come prepared with price quotes from other companies or from the internet. Know what your item cost the dealer and decide in advance what markup you are willing to give them.

Make a friend. Always be a nice person. Show interest in your salesperson, and they may cut you a deal. Never be rude, demanding, or petty when asking for a discount. Don’t bad talk the merchandise or try to bully the salesperson. Even if you get a discount, they will give it grudgingly.

Ask for add-ons. Sometimes the price won’t come down, but the salesperson might add merchandise to sweeten the deal. If you buy, say for instance, a computer, ask for added software or additional items. I myself got a free 2GB USB flash disk drive when I bought my laptop. I asked it and since I paid it in 12 months and not the usual 24 months, they gave it to me for free.

Walk away. You have so much power than the storekeeper. Why? You’ve got the money. Money talks and it often says “goodbye”. When you walk out of that store, they don’t know if you’ll ever come back. So if you can’t get the discount you need, politely say you’ll think about it and turn away. They may track you down with a better offer or let you go. The key is not to want an item too much. Be patient and save your money for a better deal.

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Tyrone is a passionate financial literacy advocate. He started this blog on November 2008 when he watched The Secret which talked about Law of Attraction because he wanted to become a millionaire and wanted to know how a millionaire acts. At the age of 26, he achieved his first million. To find out more about him, click here or follow him at Instagram

2 responses on “How to Bargain Wisely

  1. In this point in time, I think almost, if not everyone is already experts in the bargain thing. We, Filipinos pa naman are known for our ugali na, “as long as we can take advantage of the cheapest and most affordable price that we can bargain ,we really do it. And it’s not bad afterall. It’s just a clear manifestation of what our economy is nowadays. It’s good as long as you’re not already hurting the pocket of the suppliers.

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