Archive for February 2nd, 2008

Recession Survival Tips - Negotiating a Better Deal

February 2nd, 2008 by financialguy

I went to a local store today to buy an infant mattress.  This local store also has an online store that is run out of the same location.  The particular mattress that I wanted cost $100 online, but $120 in the store.  The $20 discount off the normal price was only available online.  I asked one of the store employees who turned out to be a manager about getting the online price in the store.  She reiterated that the online price was only available online.  After I asked for the online price again, she asked me where I live.  I only live about 10 miles from the store.  She did a quick mental calculation and realized that if I went home and ordered the mattress online, she would collect $100 plus tax from me.  Orders $100 and more get free shipping.  That means that she would then have to eat the shipping cost.  If she sold me the mattress right now, she would save the shipping cost.  We would both win.  I would get the mattress instantly at the price I wanted, and she would maximize her profit.  What I admired about the manager was that she wasn’t being rigid in her policies.  She saw an opportunity to maximize her profit, please a customer, and most importantly, make a sale.  This type of flexibility and common sense thinking is crucial for small business owners.  Consumers should also realize that everything’s negotiable, especially in today’s tough times.  Retailers are hungry for business.  If there is a way that both the business and consumer can both win, then smart business owners will jump at the opportunity.

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Category: Entrepreneurs, Personal Finance, Saving Money | 1 Comment »