Section 1.1: Avoiding Bargaining for Greater Gains

During my regular visits to a tea shop in Bangalore, I have developed a unique approach to purchasing tea powder. For years, I have consistently bought 2-3 kilograms without haggling over the price. Instead, I employ a simple yet effective tactic.

For example, if the tea powder is priced at Rs. 540, I will hand over Rs. 500 and request a discount of Rs. 40. If the shopkeeper declines, I remind him that I am a loyal customer. If he still refuses, I will pay the additional Rs. 40, making it clear that I expect a discount on my next visit.

What's the rationale behind this method?

The psychology of money is crucial here. Once the shopkeeper sees the Rs. 500, he realizes that if I leave without making a purchase, it could be a significant loss for him. If he does not agree on the first attempt, I encourage him to consider my status as a regular customer. It’s essential not to leave empty-handed after making an offer.

Reward Point: If you are the first customer of the day, your chances of receiving a discount are significantly higher! 😉

Section 1.2: The OLX Strategy

One unconventional trick I picked up from Quora is related to making purchases on OLX. This strategy also relies heavily on psychological factors. If a product is priced too high, you can apply this tactic to negotiate a better deal.

For instance, suppose you wish to buy a watch that the seller lists for Rs. 800, but you aim to pay Rs. 600.

Day 1:

Step 1: Contact the seller and offer Rs. 600. Expect a refusal. Approach the conversation as if you have several other options available.

Step 2: Have a friend reach out to the same seller and ask for the watch at Rs. 550. Again, anticipate a refusal.

Day 2:

Continue to have different friends contact the seller, varying the offers around your target of Rs. 600, such as Rs. 550, Rs. 620, or Rs. 580.

Repeat this process 4-5 times over a few days. There’s a good chance one of your friends will successfully negotiate a lower price. You can then purchase the watch from them.

What's the underlying principle?

There’s a saying that goes, “If you repeat a lie often enough, it becomes the truth.” This concept is the foundation of this tactic. As time passes, and more potential buyers inquire about lower prices, the seller may start to believe their initial price was too high. Eventually, they may settle for a more reasonable offer, allowing you to secure a discount.

Keep in mind, this strategy is merely a suggestion, and I haven’t personally tried it. If you do, please share your experiences! 😉