Having enjoyed Christmas and with the New Year in full swing, the reality of money being spent frivolously has now kicked in.
Due to the lack of time and patience many people tend to purchase the first available product in sight irrespective of the price. Well this doesn’t have to be the case. You don’t need to shop cheap, you just need to shop wise.
This leads us to the art of haggling.
Sometimes, when on holiday, you might find yourself in market stalls, and stalls full of treasures that catch your eye. No price tag in sight, simply a man/woman making prices up from the top of their head. The local customs and language may be foreign to you, and many of us tourists, especially British ones, are notoriously bad at haggling. So what chance do we stand against the power of the local trader who spends his days selling things to gullible tourists like you and me? Plenty… If you know what you are doing.
According to a survey, 89% of 2,000 shoppers said they saved money when they haggled for a better deal. With the festive period around the corner, budgets to consider and debts to clear, the art of haggling should be used if not mastered. It may feel uncomfortable at first, but with practice, you can certainly find yourself saving money by the end of it.
Consider the following tips:
Best rate: If you’re considering going on holiday for example, I suggest that you look for the best exchange rate for your money; hence increasing your resources and preparing for some serious haggling.
Do your research: Before you are able to haggle successfully, you must know how much the item would realistically cost. Visiting a few competitive stores and noting down the prices will certainly help. If a particular model in a store interests you, find out how long it has been sitting on the shop floor for, as this will give you a definite edge when haggling. Bear in mind that information is power so find out what the ‘norm’ is before paying.
Set your price: Make sure you know how much you are willing to spend before speaking with a salesperson. Be prepared to say “I’ll think about it” and walk away at some stage of the conversation. Most of the time this works and very few salespeople will let a customer walk away, without making at least one offer.
Be friendly: Savvy negotiators know that it’s best to be friendly and nice, and to skip the tough talk. Remember, the seller does not owe you a discount.
Be nonchalant: don’t show enthusiasm or excitement over a product when shopping, as this can be used to their advantage. Furthermore, don’t wear expensive looking garments as this shows that you can afford to pay for it. This way you’ll also blend in with the crowd and be as casual as possible. Showing a non-committal interest will help you to enjoy the benefits of haggling more than you had imagined.
Finally, be discreet. A salesperson may not want to offer you a lower price if others will hear about it. Happy haggling!