Last December, I was quoted in an article in The New York Times talking about how consumers can negotiate the price at major retailers. No longer is this a practice left for garage sales, car lots, and local “Ma and Pa” shops. If you are a bit nervous about being turned down or looking like a cheap fool, don’t be, as the act of negotiating a better price is becoming much more mainstream as retailers enact price match policies and low price guarantees to turn show-rooming consumers into paying customers. Below are six popular retailers where you should become a price negotiating ninja today.
I use to work in the paint department at the Home Depot. For a little over 1 year I mixed paint and wiped excess paint on my orange apron until it looked like something straight from the Jimi Hendrix Experience. While I worked there I became quite aware of the best ways for shoppers to negotiate a deal at the Home Depot. Here is the skinny… New Fix-It-Yourself Ma... Best Price: $1.00 Buy New $11.99 (as of 11:35 EST - Details)
- Look for imperfect items. The Home Depot is chock full of “scratch & dent” items. From appliances, to doors, to tools, to outdoor garden decor. If you seek out these imperfect items in many cases you can successfully get a 10-15% discount. Simply point out the flaws to an associate who works in that particular department and ask if they can help on the price. I always start be asking for a 20% discount and see where the negotiating takes me. As a dude who use to work at the Home Depot, I am here to tell you that we were encouraged by management to slash the price on imperfect items as we knew we would have trouble selling them at full price. The associate may have to seek management approval on more expensive items but it usually only takes a couple minutes. For shoppers, the time spent is well worth the effort.
- Look for items incorrectly stocked. Now this one may be a little unethical but I had several customers pull it on me when I worked in the paint department. I once had a guy approach me and say, “Hey, this paint brush over here says it is only $3.99 and that’s the price I want.” I walk over and sure enough a $25 Purdy paint brush had been incorrectly stocked on the shelf. The dude was adamant that $3.99 was the price he should pay. I got the assistant manger involved and we ended up giving him the expensive brush for the really cheap price. This technique is not for everyone, but if you have the brass nuts to pull it off I wish you the best.
- Try to bundle items. The technique of buying a riding lawn mower along with a weed eater, and asking a sales associate if there is the possibility of a discount if you buy both today, is one that you should definitely add to your Home Depot negotiating repertoire. Chance of saving 10% or maybe $50 has a high probability of success.
- Look for floor models, returns, and overstocks. Tile, doors, appliances, mismatched paint, and power tools are just a few of the items that often get returned or special ordered by a customer and never picked up. Store managers typically want them sold immediately so they don’t take up valuable real estate. Use this knowledge to your advantage and negotiate an even better deal on them. These items will typically be marked with a special tag that tells you they are floor models, returned items, or overstocks. Start the negotiating at 20% off the asking price and be prepared to meet in the middle.
- Become a price match pro. By knowing the price match policy at Home Depot it gives you a very easy way to negotiate the price. If you find a competing store in your area which beats the Home Depot price, you are Manskills: How to Avoi... Best Price: $1.09 Buy New $7.31 (as of 10:30 EST - Details) eligible to get the product for 10% lower than the competitor’s price. It is also worth noting that Home Depot does not currently price match online pricing.
Despite what many retail “experts” say, your local Costco can also be a darn good place to negotiate the price. Here is what you need to know to make it happen.
- Look for floor models. Have you ever seen the last of a particular item at Costco? Nothing left but the display floor model, which still works great, comes with the same warranty, but might have a scratch or a couple wear marks on it. Often you’ll find these in the electronics and computers section, as well as the seasonal section, which is typically in the middle of the store towards the front. They want to get rid of these things, and while they might already be marked down, there is still room to negotiate an even better deal. I recently received an email from a faithful reader who was successful negotiating an even lower price on a Blu-ray player at Costco which was the floor model. The Samsung Blu-ray player was already marked down from $89.99 to $74.99 but she asked an associate if they “would take $60 as it had a few scratches on it?” The associate quickly went and asked a floor manager and within a few minutes she was walking out of the store with a really sweet deal. Sometimes all you have to do is ask.
- Crack the price tag code at Costco. According to my popular Crack the Price Tag Code article, you can quickly determine which items at Costco have a clearance or discounted price. Clearance items at Costco will always have an asterisk (*) in the upper right hand corner of the price tag and discounted prices will always end in .97. Seek out these price tags and engage in a conversation with an employee and ask politely if there is any wiggle room in the price. Your chance of success goes up significantly if you can show evidence on your smartphone of a lower price elsewhere. Depending on how badly they need to clear out the merchandise to make room for new products, they may be very eager to cut a deal, especially if you are buying in bulk.
- Always negotiate the price on tires. Tires are usually marked way up and have plenty of wiggle room in terms of price. If you do your homework and find a better price on a set of 4 tires from another retailer, approach a sales person at Costco and politely explain the situation and ask for a possible price adjustment. Remember the old adage that “Discounts vary upon customer attitude” as your attitude will directly impact how much money you can save.
Before buying any electronics from Best Buy, you need to know how to negotiate in their store. Here are some insider tips to make it happen and help you save some money…
- Listen to the salesperson. Best Buy is notorious for carrying certain brands that offer bigger margins, especially on TV’s. If the salesperson is pushing you toward a specific brand once you have tried to negotiate a better price, it is probably because that brand has larger margins giving them more room to negotiate a deal with you.
- Bundle items and start negotiating. A few years ago I discovered this trick. I was buying a new Panasonic 42″ HDTV and DVD player and decided (on a whim) to ask the salesman if he could knock off $100 if I bought both right now. He went and asked his manager and within a minute he came back and said they could reduce the overall price by $75. I was like, “Cool, done deal!” A very easy $75 left in my wallet.
- The more expensive the item, the better your chance to negotiate. A 32″ or 42″ TV at Best Buy typically has a much smaller profit margin than a 65″ or 75″ TV, regardless of the brand. So you have a much better chance of negotiating a deal on a larger, more expensive, TV or laptop computer.
- Look for damaged packaging. I recently needed a new DSL router and headed to my local Best Buy. The NetGear router that I wanted was indeed in-stock, but they only had one left on the shelf. I picked up the box with the router in it and one corner was completely smashed in. I immediately knew I had some great price negotiating ammunition. I walked up to a nearby sales associate and explained the situation. I told him, “I realize the router inside is probably OK, but I am taking a bit of a risk taking this thing home. Any chance you can knock off 25% and I’ll take this trashed box off your hands?” He says he has to get a manager’s approval and within a minute he comes back and says he can give me 15% off. Easiest $20 I ever made.
- Try to negotiate at the end of the month. Sales floor managers are trying to hit sales goals at the end of the month and are much more willing to wheel and deal with you. I’m talking about the last 2 days of the month, like the 30th or 31st.
- Open box products offer great opportunity to negotiate. This is especially true with floor model TV’s and laptops. Every time I step into a Best Buy I can find several floor model that are marked down for a quick sale. But guess what? They don’t always sell quickly. So whenever you see a floor model for sale, consider it an opportunity to negotiate an even lower price. As a general rule of thumb start at 25% and let them meet you somewhere in the middle.
- Price match like crazy! The price match policy at Best Buy gets an A rating from Rather-Be-Shopping.com. Best Buy will match the lower price of both a local competitor or a major online retailer like Amazon.com. Doesn’t matter how small the local competitor is, they will match the price. Always pull out your smartphone when shopping at Best Buy (I recommend the RedLaser app) and see if you can find the price lower in your town or online. If you do, use the lower price as a negotiating tool, the employee may even beat the competitor’s price if you sweet talk them and are polite.
Another major retailer where you can become a price negotiating ninja is Lowe’s Home Improvement. Here are some tips to make it happen.
- Do not ONLY negotiate the price. Let’s say you are buying a new lawnmower. Instead of asking for a discount on the price, consider negotiating for complimentary products like a gasoline can, engine oil, or a new lawnmower blade. Lowe’s is notorious for negotiating add-ons rather than a lower price.
- Always negotiate major appliances. Lowe’s has an amazing selection of appliances and are often open to negotiating the price. Your best bet is to always do your homework before you shop and print out any instances you find of a lower price. Bring your paperwork with you and use it as ammo to negotiate a better price. Depending on the online retailer, Lowe’s may not always price match every online price, but you have a much better chance of negotiating a lower price than if you showed up empty handed.
- Look for “Scratch & Dents” and floor models. Because of the large selection of floor models that adorn every Lowe’s warehouse, they are naturally going to have a lot of scratch and dent and floor models they need to clear out. These are perfect fodder to work on your negotiating skills as they are very likely to lower the price to clear out the “imperfect” or not “brand new” inventory. They often hide these in the back of the appliance section behind all of the new models. Start by pointing out any imperfections and ask if they would take 15% off or $50, whichever is higher. In my experience, that is a great starting point when negotiating at Lowe’s and likely to yield excellent results. Remember, they really want to get rid of these and are quite aware many shoppers don’t want “scratch & dent” items, no matter the discount.
- Do NOT forget the 10% veterans discount. Are you an active or retired member of the U.S. armed services? If so, Lowe’s has an awesome veteran’s discount that many shoppers are not aware of. They will give a flat military discount of 10% to all active and retired military personnel. For all other vets they give a discount on Veteran’s Day, 4th of July, and Memorial Day. It is also worth noting, from the Lowe’s website, that “immediate family member(s) of someone with a valid military ID card” are also eligible for the 10% discount. Use it!
Thanks to their appliances and Craftsman tools, Sears continues to stay in business. While many consumers think that youcan’t negotiate the price in Sears I’m here to tell you that you’re completely wrong. Here is what you need to know…
- Always negotiate the price on appliances. Start by asking if they can do anything with the price. Sometimes they have a coupon behind the desk just waiting to hand out if a customer asks. If they don’t have a coupon they will often direct you to appliances that are a great deal or have more wiggle room in terms of price.
- Negotiate BIG on Out-of-Stock Items. This great tip came from loyal reader Robin. She explains it this way, “When they didn’t have a weedwacker we wanted in stock, hubby asked the guy if there was something he could do about another one the next price up. They wouldn’t give it to us as cheap as that, but did knock $25 off it and threw in some trimmer line.” Love it, way to go Sears!
- Look for floor models. Sears is notorious for having a section of the store that has nothing but returned appliances, tools, lawn equipment, or stuff that is on clearance for whatever reason. These offer a great chance to negotiate a deal. A few years ago, I was able to negotiate the price of a Craftsman lawnmower that had been returned by a lady who said it was just to heavy for her to push. They were asking $179 and I got them down to $150 as it had a couple scratches on it and clearly had been used a few times.
- Email and ask for specs on an appliance. When you email Sears and ask them for the specs of a particular appliance they will often email you back and include a $100 off coupon. This has happened twice to me and it’s the easiest $100 you’ll ever earn.
Shopping for a new or used acoustic or electronic guitar? Or perhaps some accessories or gear? Be sure to negotiate the price at your local Guitar Center location and save some cash in the process.
- Talk to the right person. Figure out quickly who the sales manager is and try to approach them directly. They are the one with the most authority to lower the price so you’ll want to try and win them over.
- Be polite and courteous. This one helps at any store, but it is worth repeating here as Guitar Center has a track record of knocking money off the price if you’re courteous and friendly. Bottom line, don’t be a jerk.
- Real life example. I have a friend who recently bought a brand new guitar from Guitar Center and just by being friendly and asking if they had any upcoming promotions in the works, the sales lady knocked $75 off the price right on the spot. Just ask!
Reprinted with permission from RatherBeShopping.com.