Sunday, August 30, 2009

The Art Of Haggling

In the antique world, the art of haggling comes with the territory. "Is that the best you can do?" is often the first question that begins the gentle duel.

In many parts of the world, haggling is expected no matter what the purchase. In North America, it is often limited to big-ticket items such as jewelry and automobiles. However, it has quickly become the norm during our recession and is likely to remain a permanent part of the landscape even after sales recover. As a commenter on the blog put it, “Haggling is the new black.”

America’s Research Group found in a survey taken earlier this year that 72% of consumers tried to better the price tag in the past year—historically, less than a third had done so. What’s more remarkable is that 80% of the time, they succeeded in paying less than the ticketed amount.

This is an advantage for the smaller or specialty store businesses. Wal-Mart and other big-box retailers do not have the leverage to offer on-the-spot pricing. It's David vs Goliath and we're doing very well thank you.

So next time you think you can not afford that item in the shop window you are drooling over, think again and polish your haggling skills.

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