In many parts of the world, it’s considered standard business practice to expect to haggle, and those who don’t engage are bound to pay more.
When you go on an international business trip, you can expect to make some purchases along the way.
A few souvenirs to bring home to your friends and family and also some signed business deals. These will soon add up to a high cost if your haggling skills are not up to par.
Here are some haggling tips that you can try on your next business trip.
Do Some Research
Find out more about the products that you want to purchase before you go and the cost for different suppliers. This can put the seller in a competitive pricing mindset so they are more likely to discount.
You can also choose the important features that you want the most in your selected products to gauge how much you are willing to spend.
Good Timing Matters
Try going on these business trips around the end of a month or a quarter. Usually, sellers are more willing to give you a better deal when they are close to completing their sales quota. These times are more crucial than the beginning of the month.
Alternatively, you can also try to secure a deal when an item or product is going out of season or out of the model year.
A discount is almost warranted when you are helping the seller to reduce any unwanted inventories.
Put Titles Aside
If you are dealing with professionals such as lawyers or doctors, don’t feel intimidated by their titles.
Usually, if you are willing to negotiate for a lower price with them, they are more likely to drop their rates a little for you.
Make it a Win-win
Increase your chances of successful price negotiation by offering something in return for the sellers.
If there are some long-term benefits that the seller can obtain simply by giving you a lower price, don’t be afraid to point it out.
As an example, you can agree to use a company’s insurance plans for all your staff if the price is lowered as a whole for everyone.
Try looking for any signs of damage on the items that you are purchasing. Even minor damages such as small scratches and chipped paint can give you a lower price if you are sharp enough.
‘No’ is Okay Too
Don’t push the seller too much. If the seller disagrees on the price you are asking for, you should be able to accept no for an answer.
After all, haggling will not work 100% of the time. It should suffice that you have at least attempted to do so.
Having cash with you will help especially where sellers do not accept credit cards. Just be careful not to flash large amounts of cash where others can see it.
You might even be able to get a lower price or a small discount where sellers who do accept credit cards might be willing to sell items at a lower cost for cash to avoid credit card fees.
Being polite could go a long way and haggling might not work as well as it should if you have not built a good rapport with the salesperson.
Why not listen to what the salesperson has to say first before you try to negotiate a suitable price?
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