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4 Ways to Negotiate Price Like a Pro
- Published: August 24, 2010 by Umma Queenan Comments (0)
Think of the ticket price as an invitation to buy. The store is inviting you to buy yet legally it doesn’t have to sell to you at all. Sounds a bit mad? Well, yes; imagine queuing up in a store only to find the assistant turns around, thank you for queuing but says they don’t want to sell the item to you today.
Unlikely to happen, but under consumer law shops can refuse to take your money, although this part of the law is really in place to protect them from people who go in and make a nuisance of themselves or try to settle a $9.99 bill in pennies, or something equally daft.
So if the ticket price is merely an invitation to buy, you don’t have to offer the full price – hence the opportunity for some serious negotiation.
A savvy consumer’s story
Here’s a great example of how a friendly and approachable attitude can get you what you want.
‘When my husband and I were engagement ring shopping the only ring I liked was about four times our budget – typical. We looked around in other places but my heart was set on it. So we went back to the posh shop with sparkly windows and had a chat with the lovely salesman. When we’d seen him before we’d built up a great rapport (he was Australian, so we’d duly teased him about the cricket, at which we were, for once, soundly beating them).
We explained our predicament, and it turned out that the stone in the middle of the ring was some super duper diamond, very rare, etc. Well, frankly, you could put a bit of cut glass in there, and I wouldn’t notice, so he offered to replace it with a lesser (though to my eyes still gorgeous) diamond, which took it down to $500 over budget. We could live with that (just cut back on the wedding budget). Result.’
1.) Build up your confidence
When it comes to asking for a discount what’s the absolute worst that can happen? Will you be thrown out of the store? Will there be an announcement over the Tannoy so everyone in the entire shop knows you’ve asked for a discount? Will warning lights go on every time you enter the store on future occasions? Of course not. At absolute worst the answer to your request for a discount will be ‘no’. On occasions, you may even find the store manager is more embarrassed refusing you a discount than you were plucking up the courage to ask in the first place.
And if there’s no discount to be had, you’ve then got the choice of buying at the ticket price or walking away. Simple as that. So if that’s the worst case, what have you got to lose? They’re not going to put the price up, but they could put it down.
Keep remembering how much fun bartering abroad can be, and try to keep that sense of it being a game. It’s a battle of wills, and how much better will you feel if you come away having spent that little bit less than the price on the tag?
If you really feel hesitant, build up your confidence by deliberately initiating a conversation with the cashier or assistant next time you go shopping. Get in the habit of doing this every time: whether it’s the weather, what you’re buying or how busy the store is – it will build up your confidence and make that next step easier. And if you’re worried about being uncovered in the midst of your first-time negotiations by one of your neighbors or friends, put your new negotiating skills to the test in another town rather than your own back yard, so to speak.
A savvy consumer’s story
Sometimes the first answer may not be the one you want, but persistence can pay off, as this story show. ‘I found a top I loved in the sale, but it had two small holes in it. I asked the assistant if there were any more tops in the store, and there weren’t. I said how much I really liked it, but it had holes. “Oh the dear”, she said (helpful).
The sale price was $50 (reduced from $70), so I asked if she could offer any more discount. “20 per cent”, she said. I said I’d think about it. I took around the rest of the shop then went back to the counter and said, “If I don’t buy this, what’s going to happen to it?” She said they’d probably throw it away. So I said, “Rather than throw it away, would you sell it to me for $20?” She went and asked her manager, who said yes. Hurrah! The holes were tiny and II’ darned them, so you’d never know.’
2.) Don’t negotiate with the Saturday staff.
You’ve psyched yourself up, practiced your pitch, and you’re in the store, so chances are if you’re the slightest bit nervous when you are approached by a sales assistant you carefully planned plea for a discount will come tumbling out.
3.) If you’ve got a choice, you’ve got the advantage.
If what you’re buying is available from several outlets, think of it as holding the trump card. Most retailers will usually price-match if a competitor is selling the same item cheaper; although they won’t always match online prices.
This way if you can’t buy what you want at the price you want you’ll have the confidence to walk away knowing you can try to negotiate further down the high street. Here’s were doing your homework is essential as you’ll be able to quote other prices or special promotions that competitors are offering; all of which strengthen your case for a discount.
4.) Always ask for a discount on damaged goods.
This is one of the best ways to get a discount. Yet many stores will give you a discount simply because there’s the smallest of faults or just because the item’s been on display, but usually only if you ask for it. A ‘fault’ can be something as simple as the packaging being a bit tatty or dusty, to a small scratch, dent, mark, a loose thread on an item of clothing or a nick on a piece of furniture. In some cases, you can even haggle retrospectively.
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