Wed 17 Dec 2008
Haggling Small Businesses
Posted by Megan Dorn under Small Business
I read an article in the Wall Street Journal’s Independent Street last week on the idea of haggling—negotiating prices with prospective buyers—in a down economy. The article highlights how many small businesses are afraid to haggle with their customers, but haggling could give money-conscious potential customers the incentive they need to purchase a product or service.
Large retailers don’t have the time to haggle with customers, so they lower their prices, putting small businesses at a disadvantage. Small businesses, however, know their customers better and can take the time to work with them, therefore giving them an advantage in the haggling department.
Haggling can seem like a pain for many small business owners who aren’t used to it, but in this economy it could be the difference in making a sale or watching a customer walk out your door.
December 26th, 2008 at 7:15 pm
Not only does the small business have the opportunity to haggle, but many customers like the social aspects of haggling - buying/selling.
It helps build the person-to-person relationship between business and customer and helps to generate repeat customers.