In tough times, asking for a discount could save you a fortune. Just because an item has a price tag doesn’t mean it can’t be bought cheaper. Everything’s pricey these days, but suppliers will discount prices if you ask them.
By Craig Falck for Africa Report
Photograph: © Musat Christian | Dreamstime.com
As with everything, all you need to do to get the price knocked down is ask. Take the building industry for example. When a builder sources material for a project, they’re not buying two or three hundred bricks and a couple of kilograms of cement. They’re buying in the thousands, with tons to boot. Buying in bulk is cheaper, and the cost price that suppliers pay is a fraction of their selling price. Suppliers try to sell goods for as much as possible, but they’re always willing to listen to propositions, especially when it comes to getting stock off their hands. Here are a few tips to secure discounts in any possible business setting:
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Getting discounts. If you walk into a store and buy a pair of shoes, you’ll pay the same price any other shopper would. But business-to-business (B2B) commerce is a little different. Businesses that sell to other businesses sometimes offer discounts of 50% or more depending on the quantity purchased, the terms. You may be able to qualify for a lower price, an interest-free loan in the form of trade credit, or a major discount for paying early.
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Improving service. If you have a service-related problem with a supplier, bring it to someone’s attention. Odds are, someone will possess enough authority to fix the problem. Sometimes, discounts are thrown your way as a concessionary apology. Take it, and don’t look back.
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A better relationship. If you want a tighter working relationship with suppliers, let them know. You may also drop a hint that those who don’t want to work with you may see some of their orders being diverted to others who are more agreeable. Either way, you may be able to procure a healthy price slash in the process.
