Britons are missing out on savings by being too bashful to barter in order to secure the best deals. Three quarters (75 per cent) of us dislike paying the full amount for an item, but embarrassment is the biggest stumbling block to haggling.
Research by TopCashBack reveals just three in 10 (30 per cent) consumers regularly negotiate during a purchase. Therefore the 70 per cent who never or only occasionally haggle, have missed out on £415 in the past 12 months alone.
Try practising haggling on holiday & when renewing mobile contracts
The survey of 4,800 UK adults finds that while embarrassment is the biggest stumbling block to getting a cheaper price (73 per cent), nearly two fifths (37 per cent) of consumers do not ask because they are worried retailers will not respond well to them challenging the cost.
Even those who do attempt wrangling a lower amount are not confident in their ability, with 45 per cent believing they do not haggle effectively.
Natasha Rachel Smith from TopCashback says: "British consumers are renowned for being quite reserved, so it's no surprise self-consciousness often prevents them from challenging the given price. However it's important people don't let this get in the way of them achieving the best possible deal."
Of those consumers who are brave enough to haggle, affordability is not the driving force as only four per cent are actually motivated because they cannot afford it.
Instead over half (53 per cent) are driven by securing the lowest cost possible and a fifth (22 percent) are of the mind-set that if you don't ask you don’t get.
When it comes to where and what Brits are haggling for, unsurprisingly, 68 per cent of us find it easier on holiday. While 60 per cent of hagglers look to agree a bargain for big ticket items like a car and a similar number are happy to haggle when an item is damaged. Similarly, the majority of smooth-talking money-savers (74 per cent) employ their skills when renewing existing contracts for mobile phones, broadband and TV packages, or insurance policies (67 per cent).
Natasha continues: "Our research sheds light on the tactics hagglers use to guarantee a cut-price deal, which we can all learn from. Try practising haggling in situations where it's a bit easier, such as on holiday or when renewing phone or internet contracts. Also take advantage of environments where it's more expected to negotiate on prices, such as car dealerships or markets.
"Regardless of if you haggle or not, it's worth doing your homework to ensure you always get the best price. You can almost always find discount vouchers and high cashback offers online to save money without even having to ask."
The 10 most popular tactics to negotiating a saving
- Asking for things to be thrown in free (73 per cent)
- Researching retailers beforehand so you know what deals they have to offer (59 per cent)
- Offering a lower price than you think it is worth in the hope the retailer will meet you in the middle (56 per cent)
- Never taking the first offer (52 percent)
- Building up a rapport (42 per cent)
- Pretending to be disinterested at first (30 per cent)
- Offering to pay in cash (30 per cent)
- Picking quieter times to shop (20 per cent)
- Offering to buy in bulk (13 per cent)
- Using the good cop/bad cop routine (4 per cent)
- There are more money-saving tips in every issue of Yours magazine, out every fortnight on a Tuesday.