Thesis Final Report (long)

• greed another negative outcome of haggling is

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Unformatted text preview: • Greed Another negative outcome of haggling is that the retailers intentionally quote exaggerated prices initially so that they have enough room to offer a discount. This is a strategy now practiced by majority of the retailers at the bazaar, because they want to remain profitable and at the same time accommodate the desires of the customers to haggle. One of the retailers revealed ‘we have a strategy to deal with the customers; we quote a price which is negotiable so that we can agree on the price the customer is willing to pay’ (Retailer 9, interview, February 27, 2011). Therefore, those customers who do not bargain end up paying inflated prices. • Customers Paying More A negative outcome of haggling from the customers’ perspective is that the market price of products is haggling adjusted. This means that the retailers do not quote the selling price of an item, but a higher price when inquired by a customer. This increase in price is kept to provide a cushion to the retailer in case the customer would desire to haggle. The retailers in general, expect all customers to haggle because majority of the customers do, so this strategy is widely popular in the bazaar amongst the retailers. The negative aspect of this situation is when customers who are not good at haggling, or who have no patience for indulging in this sort of dealing, end up paying a higher price, which is way above the selling price of an item. • Bitter Experiences Another negative outcome of haggling from the customers’ viewpoint is that it can be embarrassing when a retailer puts them down in front of people. When customers’ try to haggle a lot, they are put off by the retailers and asked to leave. This can be embarrassing for a customer especially if he or she is accompanied by friends or relatives. A retailer admitted by saying ‘Of course, we don't entertain customers who have a harsh tone, we simply ask them to go to someone else’ (Retailer 12, interview, February 27, 2011). 48 • Haggling is Time Consuming One of the outcomes of haggling which is negative for both customers’ and retailers is that haggling is time consuming. During the time of day when there is heavy customer traffic, retailers tend to avoid customers who try to haggle extensively. Customers’ on the other hand also don’t enjoy waiting so long to get their hands on a product they wish to purchase. 49 CHAPTER 5 CONCLUSION The objectives of this study were to understand the concept of bazaars with respect to local open air markets and the motives behind shopping at weekly bazaars focusing on DHA Bachat Bazaar, Karachi. The study aimed at understanding haggling in an open air market and the interaction between the buyers and sellers based on the research from 58 customer interviews, 12 retailer interviews and 16 observations. The focus of the study was on analyzing the motives, influences and factors on haggling in an open air retail set-up....
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• Greed Another negative outcome of haggling is that the...

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