Jun 27, 2008 11:43 pm US/Eastern
Hagglers Find No Price Is Set in Stone
Most Store Policies On Bargaining Are Informal
MIAMI (CBS4) ―
Shoppers are discovering an upside to the down economy. They are getting price breaks by reviving an age-old retail strategy: haggling.
Call it bargaining, negotiating even haggling. Is it part of your shopping routine?
"No, actually, I think I'd be too embarrassed to try," said one shopper.
A CBS4 investigative team went undercover into several big stores. The first stop was Best Buy. Cameras zoomed in on two camcorders - one priced at $499 the other at $450 – which is where the negotiations started.
"So if I took this camera could you do it for this price ($450)," asked a CBS4 undercover producer.
The answer at first was no. But when the producer persisted, the salesperson said, "If there's a discount on BestBuy.com, I can offer you that."
She checked, and sure enough she found it cheaper on their website.
"It's on BestBuy.com for $449. So I can do that," said the salesperson.
The producer walked away with a $50 savings.
Next stop was the TV department at Sears. This time the target was a 42-inch plasma.
"Would it be possible to get the one that's a little bit newer at the $1899 price," asked the CBS4 undercover producer?
"As long as you get a warranty with it," said the salesperson. The end result? "I took $200 off the TV. That's 10 percent," said the salesperson.
"I think you can haggle frankly anything," said Deborah Kolb the author of the book, "Everyday Negotiation."
"Consumer Reports did a survey and they found in appliances, electronics, jewelry, furniture, when people negotiate they had over 90% success rate," said Kolb.
Remember most of the time, the salesperson will initially say no. So then ask to speak with the manager.
Kolb suggests throwing out a number not too low, but not too high.
"If they say $350, you say $299. You're going to pay $325. But if you say $250, you'll likely pay $300," she added.
She further explained that if the store doesn't budge on the price, then try to get something else thrown in.
That's what happened when the CBS4 undercover team haggled over a television set at Best Buy.
One salesperson offered no money off the television, but did offer a $300 installation and calibration for free.
Don't forget the best haggling tool of all - competition.
"If she knows or he knows you can go someplace else, they may be more likely to give you the price you want," mentioned Kolb.
Experts say stores have more leeway on big-ticket items, though there still can be wriggle room even on $10 sweaters.
The bottom line: the worst that can happen is that they say no.
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