How to Haggle and Save: 5 Key Moves

Haggling is no longer limited to flea markets and car dealerships. With consumer spending down more than 10 percent from December 2007 to last December its steepest drop since 1968 you can now dicker over cashmere sweaters or even home-theater components at major retailers. "In this economy, everything s negotiable," says Britt Beemer, author of The Customer Rules. Below, ways to wrangle down the price on just about anything.

Deal with decision makers. Usually, only commissioned sales folk are authorized to give discounts. If yours can t, ask to speak to a manager. Albert Ko, founder of bargain-hunting Web site Cheapcheapcheap.com, often tells salespeople he wants to help them out. At Best Buy recently, he did just that while helping his dad score 10 percent off a 52-inch TV. It s win-win: They give on price, and he buys the item there and not via an Internet discounter. (A Best Buy spokesperson says that while haggling isn t the norm, "managers are empowered to react to local market needs.")

Bring comps. Many stores have price-match guarantees. But have proof. If the difference is 20 percent or greater, stores are more likely to call the competition to verify the price, Beemer says.

Watch your attitude. Don t waste people s time. If you put a salesperson through serious negotiations, be prepared to buy. And leave the big stick at home. Herb Cohen, author of You Can Negotiate Anything, suggests this softer-touch approach: "I told my spouse/mother/accountant that I d only spend X, and I just can t go over that. Is there any way you can help me out?"

Ask about unadvertised deals. Are there coupons in the register drawer? Any Internet-only promotions? Salespeople may let you use a store computer to buy a cheaper item on the Web site, even though workers on commission generally won t get their cut unless the item is shipped to the store.

Work the margins. The more you buy, the better your bargaining power. So don t ask for 30 percent off a single $20 item. Try for 20 percent off a $3,000 TV, says Ko or ask the sales guy to throw in a pricey connecting cord or to deeply discount a service contract, since both are high-margin items. Just forget about discounters like Wal-Mart and Costco, says Patricia Edwards, founder of retail consultancy Storehouse Partners. Their margins are already razor thin.

INVESTOR CENTER

MARKETS:
Chart
TODAY
Portfolio Chart

RESEARCH STOCKS & FUNDS

  • How to Pay for a Wedding

    With most couples waiting to marry and three quarters of marriage partners living together first, many celebrants are paying at least part of their wedding bill.

  • How to Teach Kids about Money

    It’s never too early to start talking dollars...and sense.

  • How to Manage Your Grocery Bill

    Your grocery bill is your biggest weekly household expense, so keeping a lid on it will go far to stretch your dollar.

Answer Engine
Find Answers to Life's Challenges  

Find solutions to this and many other problems using

Answer Engine from SmartMoney. 

Copyright 2012 Dow Jones & Company, Inc. All Rights Reserved
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit
www.djreprints.com.