Recommendations for negotiating your way to savings

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Negotiating is a scary idea for a lot of people. It should be a regular fact of life. With these negotiation tips, you can literally save yourself a bundle of cash when dealing with retailers. Resource for this article:

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Making sure you all win

Negotiation is not about begging, it's about being assertive. If you are negotiating the price of an item in the store, approach talks from the standpoint that everyone wins if you can agree on a price, provided you are fair and don't attempt to undercut the retailer too much.



Show your friendship



Make the person think you are friends and keep a conversation going. You may even need to flirt, but if it gets you a better deal, it is worth it.



Talk to the best person



Part of waging a successful negotiation campaign is making sure that you're talking to the best person. If your chosen target doesn't have the authority to make what you would like happen, you're likely wasting your breath. Cut out the middleman and approach management directly.


You are coming back

Repeat business is what makes the planet turn for retailers. If you are happy with your transaction, not only are you more likely to return, you're more likely to spread good word of mouth. Talk about how you've seen better prices elsewhere online, and even break out printed evidence. Let your friendly neighborhood retailer that you'd like to keep it loyal and local, and ask that they make an effort to match price.

Getting the sale price later

Occasionally, you may miss a sale by a few days. Luckily, you can get a sale price after that at most places. Just talk to a sales person and see if they are willing to give you a good deal or not.

Cash always better

There are a ton of retailers that will give you a discount if you pay in cash because it saves them a lot of money.

Items nobody wants

People do not like items that are already out of the box as floor models, which mean you can get a pretty good deal to them usually. Go for the floor model and ask for some additional discount.

Leave if you have to

A business is more likely to lower the price if you threaten to walk out rather than purchasing the product. Do not get attached, or you may not be able to just walk out like you need to.

Make it most important

Do not just suggest a negotiation; demand it. This will help significantly if it is anticipated that there is a negotiation. Remember that it is not optional and take control of the situation.

Sources

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by Michael@VeritasPrep » Sat Nov 14, 2015 5:44 pm
Great tips! One of my favorite classes in business school was negotiations. It was a lot of fun to practice all of the various in negotiating skills. Hopefully you'll get the chance to take one of these classes when you are in business school.