Which generation is the best at bargaining?

Which generation is best at bargaining?

How would you feel about bargaining with someone on the price of a product in a shop?

Would you feel more comfortable debating the price tag online, perhaps?

See also: What to look out for when shopping online

See also: Ignore the impulse, stop your spending and help your wallet

A new study from TopCashback.co.uk shows that there is a definite correlation between age and bargaining confidence.

The research shows that a staggering 48% of Baby Boomers claimed they were the best at haggling compared to other generations while more than half would be happy to bargain for a deal on the high street.

Article continues below

But what about the younger generations?

While millennials might be a little shy when it comes to haggling face to face, 41% have plucked up the courage to haggle on the internet, with a subsequent 91% success rate.

With the ongoing rise in popularity of sites such as eBay and Gumtree, millenials are happy to do their haggling from behind a computer screen.

So how do you bargain online? It's a lot easier than it may sound - you could contact a seller by email or get in touch via webchat.

Another popular technique is to leave an item in your online shopping basket and then wait for the retailer to contact you with a potential discount code.

While this may sound like an unlikely way to get your hands on a cut price deal, 57% of those asked said this had been a successful tactic.

So, is it really the face to face aspect that's putting youngsters off?

It would appear so - online bargaining has really started to catch on across the UK.

As many as 40% of people said they are less embarrassed by haggling online than they would be to do it in person.

So, what's your technique when it comes to reducing your spend? Let us know your top tips on bargaining in the comments below.

Save money on shopping: ten great tricks
See Gallery
Save money on shopping: ten great tricks

The more work you are prepared to put in, the more you stand to save. If you put your shopping list into mysupermarket.com, you can identify where each individual items is cheapest, and can technically buy every single item at its lowest possible price.

If that sounds a bit too much like hard work, a reasonable compromise is to shop at two supermarkets: once at the weekend and once mid-week. You can buy each item at the cheapest of the two shops, and save money without devoting hours to shopping.

There are several deal-sharing sites, including hotukdeals.com and latestdeals.co.uk. Most of them have a ‘freebies’ section, where you can get items completely free, and all have a section where they post fantastic deals that are well worth taking advantage of.

They will often point the way to coupons for brilliant discounts too.

The more time you have spare to spend looking for these, the more you can save.

It’s worth following your favourite brands on Facebook or Twitter. It’s also important to pick up in-house magazines, try your free local paper, and check any letters from supermarket loyalty schemes for your vouchers. If you have a Nectar card, visit the website before you shop, so you can upload the latest deals to your card.

While you’re in-store, keep your eyes peeled for promotions on packets, and on receipts. Often the deal-hunting websites will offer a short cut to many of these, but if you have the opportunity to do some legwork, you will find plenty of others.

Compare the price of your branded goods (after you use the coupon) with the cheapest supermarket alternative. If the discount makes it the cheapest option, then feel free to use it immediately.

However, if it doesn’t bring the price down below the own brand price, then don't throw it away. Hang onto the coupon, and check Mysuupermarket.com every few days to see if there’s an offer running on the brand at any time before the coupon expires. A deal plus a coupon is often the cheapest option.

Prices change all the time, but it pays to have a shopping list annotated with the usual price - or an old receipt - on hand when you are shopping. When something is on sale, compare it to the usual selling price from your list, to decide if it’s really as good value as it purports to be.
The frugal experts have decent storage areas at home, so if there’s a very special deal on washing powder or toilet paper, tins or toiletries, they can stock up for a few months at a knock-down price. It’s not generally worth doing on fresh produce, or packets with a short shelf life though, because throwing something away that’s out of date will undo all of your good work.
There can be some incredible bargains in the ‘yellow sticker’ sections of the supermarket. Most stores will have a spot for fruit and vegetable reductions, somewhere for chilled food price cuts, one for bakery products, and a final one for those with a longer shelf life that may be a bit battered, or separated from the outer packaging. Check them all for a possible discount.

The ’yellow sticker’ items will usually be reduced at least twice a day: once in the afternoon and once later in the evening. If you can wait to shop at around 7.30pm or 8pm you can get astonishing discounts.

If you want to time your shop exactly, then your best bet is to ask in store when they do their final reductions - don't be shy!

Get to know the rules around freezing ‘yellow sticker’ items, so you can buy when they are cheapest and use over the following weeks and months.

Don't assume something is perishable without checking. Everything from cheese to beansprouts is fine to freeze as long as you treat them correctly (beansprouts need blanching, chilling in ice water, and freezing immediately).

It’s never worth buying something just because it’s cheap: you also have to be able to factor it into your life. If you can't immediately think how you would use that over-ripe avocado, a pack of cut-price tongue or kippers, then don't buy them.

Read Full Story Click here to comment