Roll your sleeves up, it’s time to make some purchases on your Latin American vacation! It could be a market stall, back-street shop or wandering vendor. Whatever the custom in your country, you are practically expected to haggle for prices or pay much more than you should. Here are some tips to help you have fun and get a good price.
Getting your haggling head on
First of all, expect prices to be flexible and don’t feel worried about asking for a discount.
• Vendors will try their luck and ask for a much higher price than normal, so you should try your luck and ask for a much lower one!
• Remember that negotiating is not arguing; you’re not aiming to get into a screaming match, but trying to find a fair price for the item that is acceptable to both parties.
• Don't be embarrassed about asking for money off! Being price savvy is not being cheap.
Preparation
As with any good negotiation, you shouldn’t walk into things cold.
• Work out how much you want to spend; haggling is the process of getting the best possible value for that amount of money.
• Research the product you want to buy - typically Latin America markets and shops are full of the same items, so you can do a price survey in a couple of other locations.
• If you can, bring someone with you who speaks the language.
• If not, bring a calculator to show numbers (the universal language) and do conversions if you are not totally familiar with the local currency
• Dress down and don’t give the impression of someone with a lot of money to spend.
Beginning the negotiation
A much as you may want to discuss price, never jump straight into it...
• Build rapport with vendor, and show an interest in their business, life and country whilst remaining polite and positive.
• If you notice something you like, never show interest. During the haggling process never appear needy and be prepared to walk away empty handed (sometimes this even helps as part of the negotiation).
• Price-wise, what is good for one is good for all - out of respect for the vendor negotiate quietly so no-one else can hear and don’t shoot off at the mouth about the deal that you just got.
• Allow the vendor to sell their product - this will relax them.
• Make sure the vendor makes the first offer, no matter how much they ask you for the opening price!
Getting down to business
OK, the first move has been made. Now comes the fun part!
• Establish their baseline price - go as low as possible in your counter-offer! Expect a dramatic response, as it’s all part of the haggling game...
• At no point in the negotiation should you mention your budget!
• Have an excuse to walk away if the haggling gets too intense - maybe you’ve got to meet friends or your tour group is waiting.
• Don’t say anything after your counter-offer until the vendor replies - silence is awkward, but golden.
• Check the quality of the product - if you can see any flaws, angle for an extra discount!
Closing the deal
It’s all agreed - counter-offers have gone back and forth and you’re both finally set
• At this point you should really commit to purchasing to honor your verbal contract. Many Latin America vendors are poor and it is unfair to commit to a price without purchasing.
• However, when the final price is fixed, there’s no reason not to try and go for low-value extras or accessories to throw in with your purchase. You should try to do some research into these before you begin your negotiation as well.
Do you have any other tips for haggling in Latin America? What are some of your haggling experiences?
Author: Gary Sargent - Escaped to Peru / Escaped to Latin America
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