Negotiating Prices

Markets and Street Vendors

1. Initial Interaction:

• Show Interest but Not Desperation: Express interest in the item but avoid showing that you’re overly eager to buy.
• Ask for the Price: Inquire about the price first before making any counteroffer.

2. Making an Offer:

• Start Lower: Offer a price that’s about 30-50% lower than the initial asking price. This leaves room for negotiation.
• Bundle Items: If you’re buying multiple items, ask for a discount on the total purchase. Vendors are often more willing to give a better deal on larger sales.

3. Use Silence and Pause:

• Wait for Their Response: After making an offer, remain silent and wait for the seller to respond. This can sometimes prompt them to lower the price without you needing to say more.
• Pause Before Accepting: Even if the seller agrees to your offer, pause for a moment before accepting. This can sometimes lead to an even better deal.

Shops and Boutiques

1. Ask for Discounts:

• Inquire Politely: Ask if there are any discounts or promotions, especially if you’re buying multiple items.
• Cash Payments: Sometimes, paying in cash can get you a better deal since it saves the seller credit card processing fees.

2. Leverage Competitors:

• Mention Alternatives: Politely mention if you’ve seen similar items at a lower price elsewhere. This can encourage the seller to match or beat the competitor’s price.

Final Tips

• Stay Calm and Patient: Keep the negotiation process friendly and relaxed. Losing your temper or becoming impatient can negatively impact the outcome.
• Know When to Stop: Once you reach a fair price, stop negotiating. Pushing too hard can lead to the seller retracting their offer.
• Practice Makes Perfect: The more you practice negotiating, the better you’ll become at reading situations and achieving favourable outcomes.