It is almost the time of year again where great deals are in every store and long line ups are formed outside each store. The month of December is what many consumers look forward to every year because of the crazy bargains and deals offered. But before the month of December comes today is Black Friday, where massive sales are occuring in the states.
For many of us, we are willing to sacrifice our sleep and time just to line up early outside a store to be able to get these decent deals. For some of us on the other hand, prefer to stay home and not go through that stampede. This morning I came across an article in the Globe and Mail about personal finance. The article’s about the author finding a black friday-like deal at home instead of going to the states and getting stuck within a crowd. There is a website that surveys prices of retail products from various merchants to identify the best deals called Wishabi. The author printed out the deal that Wishabi provided, showing that there was a better deal of the product in the states, and used it as a bargaining chip in a local store. In the end, the author bought the product at a very low price after negotiating. What the author is trying to get at in this article is that you’ll never get a decent deal without trying to bargain and ask for it. Many consumers may feel shy or embarassed to bargain, but if you never try, you’re the one who misses out and have to end up paying a higher price than a price you could of bargained lower for.
I’ve actually experienced this myself. As you know, Hong Kong is a place full of bargaining. When I went back last summer I wasn’t use to it and was always afraid to bargain because I felt embarassed. It turned out that it was actually a lot easier than I thought. Many times owners know that consumers want to substitute away from the more expensive good and into the cheaper good, so if they don’t lower the price like you asked for, they can predict that most likely you’re just going to buy it from another store who’s willing to offer you a better deal.
It never hurts to try. Bargaining can be a strategy for personal finanace. If you don’t give it a shot, you won’t know if you can get that product cheaper, so why not just try? Bargainers have an advantage because the store wan’ts to make the sale, so if they don’t negotiate knowing that other stores offer the same product at a lower price they will just lose the customer. December is almost here so it is time for a month of cheap deals, joy and shopping!!!
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