Get ready to bargain now because believe it or not sales on “hard luxury goods”, which includes luxury women’s and men’s watches, are expected to go back up in 2010. Learn how to get these goods and more at lower than ever prices, before they rise up.
Richemont, the world’s second largest luxury group in terms of sales, makes more than half its profit from sales of goods like Cartier watches and jewelry, IWC and Jaeger-LeCoultre watches and from other companies that it owns, like Baume Mericer.
The economic slump has hurt groups like Richemont and if what they predict is true, that the U.S.’s appetite for “hard luxury” goods is coming back, then get your buying on now.
2009 has been a bad year for luxury sales in the U.S. Demand for watches in the mid-price range (such as those by Baume Mercier) dropped 11%, while more expensive watches (costing around $10,000) fell about 25%. Luxury watch sales remained slow and low throughout the summer as well in the U.S. but jumped 20% in China. China will soon house more Cartier boutiques than anywhere else in the world.
Now, the part about how to learn how to bargain on everything from a luxury watch to a hotel stay, before the prices go back up!
Think about it, you have no problem wheeling and dealing at a flea market or even when buying a car. Who’s to say you shouldn’t do this when booking a hotel room or buying yourself a nice, new men’s watch or women’s watch?
Susan Spencer, executive editor for All You magazine says “Everything is negotiable. In this economy, it’s definitely a buyer’s market.”
The “where and how” approach to getting what you want for less:
Clothing store: if you’re going to buy more than one of the same item, ask for a discount. Tell the owner that you shop there all the time and you’re willing to spread the word to others.
Cellphone carrier: No one can live without their cell phone / Blackberry but this doesn’t mean you have to pay their prices, which can add up if you go over your plan. If you’re up for a renewal ask for a new phone or tell them they need to offer you a better deal than the competition, otherwise you’re “outta there.”
Appliances: TV’s, washer, dryer, dishwasher, etc. May not be the first thing you want to spend your money on, but these are necessities and you can definitely find some room for price negotiation here, especially if you’re willing to buy the floor model.
Hotels: People are not traveling as much so hotels are not as booked. If you plan on staying three nights, ask for the third one free. Can’t hurt to ask and saves you money to spend on your vacation.
Luxury watches: Whether you walk into a store or are looking online you can ask for additional discounts, but not by asking, but by stating what you are willing to pay. Make sure you speak to a manager or the owner, likelihood is they rather make a reduced sale than no sale.
You can even try something like the “buy one get one half off” approach. Whether you’re shopping for yourself or your wife or husband, watches are a great gift and it’s very possible that you can get two luxury watches for the price of one by bargaining. An added plus: your wife / husband will love you more and won’t be upset that you bought a luxury goodie for yourself and not her/him!