Customers are taking the upper hand as prices for products and services become more negotiable, the
Los Angeles Times
and
The New York Times
report. Many small businesses are no strangers to negotiating deals. But as haggling hits larger businesses, small businesses may need to lower their prices, or customers will likely find better deals at larger stores like eBay, Amazon, and NexTag.
Feeling the squeeze of a slowing economy, both business owners and consumers search for ways to move forward. Included along with the Los Angeles Times article is a tip sheet for wannabe hagglers. One such tip: "Loyalty counts." This suggests to small businesses that rewarding loyal customers with lower prices may win them and their business over. And it's just one way business owners can survive through this temporary downswing.--Whitney Chen