Sunday, March 23, 2008

Upside of the Slow Economy: Haggling is OK

SAN FRANCISCO Shoppers are discovering an upside to the down economy. They are getting price breaks by reviving an age-old retail strategy: haggling.

A bargaining culture once confined largely to car showrooms and jewelry stores is taking root in major stores like Best Buy, Circuit City and Home Depot, as well as mom-and-pop operations. Savvy consumers, empowered by the Internet and encouraged by a slowing economy, are finding that they can dicker on prices, not just on clearance items or big-ticket products like televisions but also on lower-cost goods like cameras, audio speakers, couches, rugs and even clothing.

Nod to Taxing Tennessee.

3 Comments:

At 3/23/2008 7:51 PM, Anonymous fred said...

Haggling is a voyage of discovery. Price discovery is a key signal in free markets.

 
At 3/23/2008 7:58 PM, Blogger juandos said...

"Price discovery is a key signal in free markets"...

Amen!

Can haggling of a sort fix the following?

It’s Hard to Thaw a Frozen Market

This is from Tyler Cowen over at Marginal Revolution...

 
At 3/23/2008 11:03 PM, Anonymous Anonymous said...

Haggling does indicate another upside, namely, that consumers have not stopped spending. Consumers appear to be taking advantage of the gitters in the retail sector to get the best deal.

Thanks, Juandos for the post regarding the marketable securities. I guess we are all curious as to how this crisis will unfold.

 

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