Haggling is regarded as one of the oldest business tools in the business. It’s generally accepted that the term was first coined in 1599 (we like to think it was originally supposed to be 1700, but we got a discount!).
Negotiation is central to any business transaction and we engage in it all the time in our day to day lives. However, it’s never been easy to implement it in the online world, and negotiate a new price right through to checkout. Traditionally, a product is given a price on a webstore and that’s it, the price is fixed and a buyer can choose to pay the price or not.
But what if a buyer wants to buy the product, but can’t quite make the asking price? Or wants to buy a number of units and feels they should be entitled to some sort of discount? Or wants an extended warranty?
Using the PriceChat or Haggle Button, customers can now ask questions, make offers and generally engage more with the webstore. This form of engagement helps to build customer relationships and improve customer loyalty.
Some retailers are still uneasy with the term Haggle as they see it as a price cutting race to the bottom. But the reality is, it’s really about customer engagement and customer retention. By dealing with customers on a one to one basis online retailers can avoid mass discounting and actually build a relationship with their customers. In effect, they can give their customers an online hug – a Huggle, if you like.
So, go ahead – embrace the Haggle