But as the ancient saying goes, one man's problem can be another man's opportunity. In this economic climate that saying is more true now than ever before, especially if you know how to haggle.
Circuit City, Linens and Things, Old Navy and many other retailers are planning to close [their] doors soon. Yes, the daily tally of retail stores shutting their doors and many others on the brink is staggering to the mind, to say the least. But this can mean an unprecedented opportunity for savings if you know how to shop and what to negotiate prices on.
This is the time for price negotiation.
Everything is negotiable has always been the saying of skilled shoppers; now it's obvious even to those who balked at negotiating a price before. In fact, because of the mountains of red ink many retailers are staring at each day, they wish someone would make them an offer -- any offer within reason.
Many would find it encouraging if someone would offer them an at-cost offer. Other in-the-red retailers would take a small loss just to not have to keep counting and cleaning the same merchandise everyday -- and having to pay someone to do it. This presents more opportunities for you to haggle for that t.v, stereo, suit, car, or home you've always wanted.
As in any major or minor endeavor, timing my friend is everything ... and cash is king. If you have the cash you can negotiate business with confidence like never before. With credit shrinking faster than a cheap suit in the rain, more retailers will love the sight of cash in hand -- and will be more open now to making a deal than they've ever been before.
Follow these simple negotiation tactics for big savings.
1. To become a confident negotiator you must do your homework ahead of time.
-- Find out what the items worth.
-- Find out how many places have them for sale.
-- Is the product or service a high, medium, or low demand product or service.
Remember, the more you know before you start to negotiate, the better you will negotiate.
2. When a negotiation is successful, both sides win. All negotiation is give and take. A win-win situation should be the result with both sides at least getting what they need.
3. Know that negotiation is not an event that happens, it's a process of steps that lead to success. Paying attention to the simple but effective steps is the difference between getting a bargain price and overpaying for a product or service.
4. To negotiate effectively, you must be willing to walk away if the price or terms is too high. If you have to have a product or service no matter what, you're negotiation power shrinks drastically.
5. Most salespeople worth their salt can spot a desperate buyer a mile away. So avoid appearing too desperate, anxious, or needy for the product or service they're selling. Otherwise prepare yourself to pay top dollar, in most cases.
6. Keep in mind an important part of negotiation is also knowing when to stop. Getting too greedy can often cause you to lose an otherwise good deal.
7. Lack of advanced preparation and setting a price limit is one of the biggest mistakes most people make when trying to negotiate. Set a spending limit and stick to it.
Roy Primm has written dozens of articles showing others how to live better on less money. To read more tips and get a free 140-page ebook, "199 Ways To Live Better On Less Money," visit Shoppers Coach.© 2008 Roy Primm
The views and opinions expressed in these articles do not necessarily reflect those of College Central Network, Inc. or its affiliates. Reference to any company, organization, product, or service does not constitute endorsement by College Central Network, Inc., its affiliates or associated companies. The information provided is not intended to replace the advice or guidance of your legal, financial, or medical professional.