Every company has its own way of doing business. But the basis for their final prices is the same – after a careful calculation, strategy, and added markup, a price is created. Since even with their deepest discounts they earn money, you can be sure that there is no need to accept the price that you have been given. Almost always, there is an option for a cheaper way. Being comfortable to negotiate about it will yield good results. After all, negotiating is a way of life in most places in the world.

Below are 5 tips that can help you to not overpay for products, courtesy of some high-end jewellery and fashion brands.



Know the Product’s Retail Value

Before you start with your shopping, check the price for that particular product you intend to purchase in as many stores as you can. This will give you a better understanding of what is the price range for it. Also, determine if that product is a bestseller or is something that takes a long time to leave the stores’ shelves. Let’s not forget the buyer’s reviews as well, who will give you the best picture of how the product is behaving during usage. With this information at hand, you can create a realistic expectation about the potential discount you might get. Many places will be flexible, and their price reduction can go from 10% to 30%. But if you look for something in the range of 50% to 60%, don’t expect that such a request would be well-received.

Acknowledge the Venue

It is generally known that smaller stores tend to be more open to bargaining and negotiations. But it is also known that big stores’ salespeople can help you get a better deal, especially if they work on commission. As there is personal interest in a sale for them as well, they will be more open to adjusting the price towards your payment capacity. And remember, the bigger the purchase, the higher the possibility for room to discuss the final price.

Negotiating is Easy as Asking

Although a price tag is just that, a price tag, most people think it is something that isn’t negotiable, so the only way forward is to pay it. The reality, however, is that you have the room to negotiate about any price. Often, all it takes is asking a question. Starting from a discount card to having your purchases shipped to your place so you can save on tax costs (when traveling) are just a couple of possibilities you can have if you just take the time to ask.

Purchase at the Right Time and Place

Paying less can often be the benefit of waiting for the right time. Every year there is usually a designated best time when certain products should be purchased. While you can find analysis of product cycles and data online, one approach will always work – purchase off-season products. Once you have selected the product, check how the price has been fluctuating in the previous period. Many apps can help you with the price history of many products available online.

You know the product, and you know the price. Now select the store from where you want to buy it, and see what are the best days and time to shop there. You can always consult Google Maps data for when that store is usually empty. The only thing left is for you to take an unconventional lunch break and visit the store when most shoppers are working.

Secondary Market Offerings

As our last, but slightly different tip – checking the secondary market. This is because to make the biggest savings, the secondary market might be all you need. This especially works if you are purchasing clothing or jewelry. For example, if you are interested in purchasing this season’s Nike’s running shoes, for sure you will find them with a price tag close to the retail price, as they are in demand. But if you purchase past season shoes, the discount you will get will be a lot better compared to the retail price. The only thing that you need to remember when checking the second market is to shop from a trusted place and brand, so you don’t come across counterfeited products.