When it comes to market stall haggling, one thing’s for sure: you’re bound to encounter your fair share of hagglers. And if your stall happens to be in a tourist hotspot, well, buckle up, because haggling might just be the order of the day. In some places around the globe, haggling isn’t just common—it’s expected. Bearing that in mind, remember not to take offence when somebody asks for a discount. It may seem rude to you, but it may very well be standard practice in somebody’s home country.
At the end of the day, it’s business and not a personal attack or trickery on your prices. I know some stall holders get a bit snappy at customers who ask for discounts, not only is that bad customer service, it’s just not worth the negativity for your mental health.
How should I handle hagglers?
Now, you’ve got a couple of ways to handle this. You could take a firm stance, politely declining any and all attempts to haggle. There is nothing wrong with this. Alternatively, if you’re not opposed to a bit of bartering and are willing to shave a bit off your prices, then by all means, haggle away. Just make sure you’ve got a clear idea of your rock-bottom prices before you set foot in the market.
Jot those numbers down on a piece of paper; it’ll be your haggling bible when the time comes. Remember, if your goods are handcrafted, don’t forget to factor in both the cost of materials and the sweat equity you’ve poured into them. For items you’ve picked up wholesale, keep in mind the minimum markup that you’re willing to accept.
You’ll run into all sorts of bold hagglers. Take it from me, I’ve had folks try to talk me down from $20 to a mere $5. Hats off to them for trying, but a deal like that would’ve left me out of pocket. I stood my ground, declined their offer, and guess what? I still made the sale. I even had someone ask me if I was ‘negotiable’ on a $4 item!
Compromise on haggling
If you’re open to letting customers haggle, remember, you’re not obligated to accept their initial offer. Throw a counteroffer their way. You might even consider offering discounts for cash payments to dodge those pesky transaction fees.
The multi-Item haggling dance
The most common haggle I encounter? Customers are eyeing a discount for buying multiple items. The first time it happened, I was scrambling to do the math in my head. Now, I’ve got a set discount rate locked and loaded. It became such a frequent occurrence that I decided to make it a standard deal for certain items, and guess what? Sales have seen a nice little uptick. Usually, if an item is already part of a multi-buy deal, customers won’t haggle, and if they do, I explain that discounts are already in place.
Your team need to be on the same page
Make sure anyone that works for you or helps out, such as family, knows your stance on haggling. It can seem daunting for younger staff if its their first jobs to know how to handle haggling customers. Your best bet is to tell them what is allowed or to advise them to simply say no or call you over for help.
Adjust haggling strategies based on experience
As you become a more seasoned market vendor, you will get an idea of whether or not allowing hagglers is suitable for your stall. As you gain more experience with your target customers, you will learn which strategies work best and pivot your approach. The market environment is dynamic, and flexibility can help you maximise profits while maintaining customer satisfaction.
Bearing in mind the card processing feed, you may also decide to only accept haggling if customers pay by cash and not via a card reader such as Square.
Haggling pitfalls
A word to the wise: be cautious with your discounts. I once offered a small discount to a kid who had been eyeing a product but was a few dollars short. It was a feel-good moment until she returned with an entourage expecting the same deal. I couldn’t very well say no, so I let them have the discount, but it was a lesson learned. If you’re going to offer one customer a discount, be prepared to extend it to others.
This approach actually worked in my favour with a group of tourists. They bought a bunch of my ceramic pieces at a discounted group rate and even brought their friends over, which led to a sell-out of an item that had been languishing up to that point.
Is haggling allowed? It’s your choice
I have a love-hate relationship with haggling. While I do love to give some discounts to customers who buy big so that they walk away happy with their purchase feeling like they got a bargain, I hate the entitlement around it. I know that at a market it is to a degree expected, but I’d be lying if I didn’t admit that I hate the fact that the same customers that haggle me will go to a large chain store and never question the price.
Or people who post Facebook posts about supporting small businesses, then try to guilt small-time vendors into giving them a discount and cutting their profit. I remember one particular rainy day I hadnt made a lot of sales and a customer came in to haggle me on a $30 item asking to have it for $15, saying something along the lines of that it was a pity sale and they were doing me a favour buying this $30 item for $15. The nerve!
At the end of the day, the reins of your market stall are firmly in your hands. Not keen on haggling? Just say so. If you’re open to it, just make sure you’re clear on your limits ahead of time. The key is in your preparation.
Know what is and isn’t acceptable to you and what the lowest price you accept would be. Also, make sure that anyone working with you knows your haggling policy. Happy selling!
Related reading: how to boost your market stall sales and the market directory.
Keep reading: our market stall checklist and 7 ways to boost your market stall sales.
