The Shop Cop - Jennifer Litwin

The recession has hurt many retailers, of course. But are you willing to do what it takes to strike the best deal possible for yourself and family? With inflation figures up what are retailers willing to do in the way of lowering prices? Did you know that 90% of you who haggle will get a discounted price? That figure is staggering.

Stores like Macy’s, Target, Room & Board are stepping up to the plate to catch every possible shopper. How can you make sure you are leaving no stones unturned when shopping for anything right now?

Here’s How to Successfully Haggle in this Market:

MOST IMPORTANTLY:

1. KEEP ON TOP OF CURRENT PRICES AND SAVE YOUR RECEIPT! If you pay full price on ANYTHING, find out when the item will go on sale, keep your receipt and check to see if you can get that price difference if you return item to store. If you don’t get the lower price you could say “I feel tricked because the price was X yesterday,…and you won’t give me the sale price!” Department stores like Macy’s will discount if they have a loyal customer who complains about the recent price drop soon after the purchase.
2. MENTION THEIR COMPETITORS: Especially true with price sensitive items like electronics or appliances (Best Buy, Macy’s, Target: (only 33% of people haggle at electronics stores) Tell each retailer you visit the amount of money you have to spend on a particular kind of item…like a 42 inch plasma TV. Even at a Best Buy. Floor models have to go eventually, even at a rock bottom price. Lowe’s floor model refrigerator example ($1300 refrigerator sold for $650, less than wholesale cost—customer waited until the floor model hadn’t been sold for a number of days. Stores may ask you to pay cash… Point out all imperfections. Find out about future sales…maybe your store will offer the discount to you now. Beware of free financing deals with credit market tightening.
3. HAGGLE ON MEDICAL BILLS: Insurers can save 60% off the bill many times by just asking. But only a third of us ask for a better price—we are afraid to ask our doctors for a reduced fee. Call the CFO of a hospital or the doctor, directly, avoiding the office personnel.
4. ASK WHEN THE PRODUCT WILL BE DISCONTINUED: Stores like Room & Board here in the Twin Cities, and most electronics stores are offering 10-40% discounts on discontinued goods. Find out when the piece you want will be discontinued and ask if you can get that discount NOW, rather than waiting.
5. NEGOTIATE IN PERSON; NOT OVER THE PHONE: Example—hotels. A recent study showed that you are 68% more likely to get a discount on a hotel room or upgrade if you ask at check-in; not over the phone.
6. TELL STORE YOU ARE DISAPPOINTED IN THEIR SERVICE: Bloomingdale’s website sold a woman a lamp. It didn’t arrive for months. She told them of her disappointment and they gave it to her for free.
7. IT DOESN’T MATTER WHETHER YOU ARE A WOMAN OR A MAN: Anyone can haggle and get lower prices. 64% of men and 58% of women haggle, but studies show both are successful.
8. WHEN THE PRICE ADVERTISED FOR GOODS OR SERVICES DOESN’T MATCH AT THE CHECKOUT TELL THEM THEY “BROKE THEIR PROMISE”…retailers hate when you think they lied. Common where there are service contracts, warranties for cars and electronics.
9. BE SOFTSPOKEN: The worst you can do to spoil the prized haggling moment is to spill the beans to everyone else. Especially if you want to get another deal the next time.