Good moment to everyone, I am thinking of making a policy of #no price haggling# in my business just as the way most wholesalers do though for now I do sell only to final consumers. I come about this because the price of my goods seem to be relatively better and seem to be the best compare to others and the demand is high which of course translates into high turnover for me. I think it's better for customers to trust you and your price.

Personally, I am not that comfortable with price haggling as it tends to waste time and it may also translate to playing with customer/client intelligence. I think a seller ought to have a predetermined conception of a particular profit that he or she wants to make on a particular product. I also think price haggling should just apply to car selling/ auction/bidding and not on general products.

Pls which is better for a thriving entrepreneur; price haggling or no price haggling? Thanks

as much as you have the right to put whatever policy in place, haggling is the way many are doing business and they couldnt buy anything without trying to bargain prices down for a sweet discount. i know it is "customary" in China, for example as EVERYONE haggles there. also,you have to sometimes be flexible, if/when a customer becomes a regular, and buys many items at a time.... like to show appreciation in some way.

btw dont you ever bargain prices from your supplier, in order to offer the best prices to your customers?

For no haggling system to work, you have to do a market survey to find out the best price your competitors are offering. Once you know their price, all you have to do is to bring your price a little lower. That means nothing more and nothing less. If a customer walks into your store the first time and leaves because of price, he/she would certainly come back after visiting other places.

But you have to have very good communication skills so that the customer does not feel that you are too rigid. The reason is that since haggling is a common practice, your refusal might be interpreted as high handedness and some customer might resent dealing with you.

In essence, and this is generally in life, how you say what you say makes a great difference. Trust me, some customer would prefer to buy an item you have say for #200 elsewhere for #220 because of the manner in which the other person presented the price.

You can always start with this line, "Sir, our price is the cheapest you can get this item around here, and we stand behind our quality." what this does is that it impresses on the customer, so that even if he leaves, he is only leaving to compare prices. Trust me, he will come back knowing that you were truthful and that is one more customer you have gained for life.

Good luck

sonnie10:
For no haggling system to work, you have to do a market survey to find out the best price your competitors are offering. Once you know their price, all you have to do is to bring your price a little lower. That means nothing more and nothing less. If a customer walks into your store the first time and leaves because of price, he/she would certainly come back after visiting other places.

But you have to have very good communication skills so that the customer does not feel that you are too rigid. The reason is that since haggling is a common practice, your refusal might be interpreted as high handedness and some customer might resent dealing with you.

In essence, and this is generally in life, how you say what you say makes a great difference. Trust me, some customer would prefer to buy an item you have say for #200 elsewhere for #220 because of the manner in which the other person presented the price.

You can always start with this line, "Sir, our price is the cheapest you can get this item around here, and we stand behind our quality." what this does is that it impresses on the customer, so that even if he leaves, he is only leaving to compare prices. Trust me, he will come back knowing that you were truthful and that is one more customer you have gained for life.

Good luck

whao! I really love this; thanks so much

MRBrownJ:
as much as you have the right to put whatever policy in place, haggling is the way many are doing business and they couldnt buy anything without trying to bargain prices down for a sweet discount. i know it is "customary" in China, for example as EVERYONE haggles there. also,you have to sometimes be flexible, if/when a customer becomes a regular, and buys many items at a time.... like to show appreciation in some way.

btw dont you ever bargain prices from your supplier, in order to offer the best prices to your customers?

I did that initially but now it's a matter select goods and pay-no story