To follow up on my earlier tale of Discount Domination (where I saved 24% on a pricey office chair), here are some general tips to score savings on big-ticket items:
• Research first. Learn about the product that you want before stepping into a store. Go beyond the retailer and its competitors by considering buying used. Check out auction and resellers’ websites to get a sense of what a “good deal” is.
• Step into a store. With the Internet, many customers are shopping from their homes or dorm rooms. Yet, many juicy discounts require talking to a human. If I had been shopping for the chair online, I still would have called a sales person to ask for price matches, and the 10% discount on the floor sample.
• Bring your research. For a big-ticket item, it’s worth the 30 seconds of loading up your smartphone or bringing printouts. Be ready to load the website of the retailer’s biggest competitor too, and ask for a price match.
• Ask for the simple discounts first. The simple ones are those that are standard or easily documented. By leading with the simple discounts, you feel better about the good momentum and you come off as a reasonable customer who is just asking for what’s fair. Another advantage is that the salesperson doesn’t get overwhelmed with the details and will be open for the tough bargaining to come.
• Bring a friend. Your pal doesn’t have to be a master negotiator, although that does help. Instead, he or she should help you figure out your strategy and jump in if your confidence drops.
• Share the success! When complete, share your own story of Discount Domination. Offer to help friends and family on their shopping adventure so you can research your next purchase and get more practice.
Once you’ve dominated the discount challenge, find out more about spending and saving in the Practical Money Skills section Live Within Your Means.
—Jean L.
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