In the face of all growing competition there are all kinds of great incentives. Discounts, money-off vouchers, loyalty points and offers all add up so it's well worth taking advantage of what's available.
Here are our top tips to be a savvy shopper:
Leave your British reserve at the shop door and haggle
Take a tip from pushy American shoppers and Middle Eastern hagglers and ask for a discount or even a freebie. If you don't ask, you don't get. As far as the retailer is concerned accepting a cheaper price is better than losing a sale.
You improve your chances of getting a discount if you can pay by cash. It's also worth asking to speak to the manager as a general sales adviser will be more limited in the size of discount he or she can authorise.
Timing... really is everything
Many retailers have end of month sales quotas to fill, so if you are feeling especially savvy, wait until late in the month if you've got a big purchase to make - you may find they're more inclined to seal a deal meaning you can negotiate a bigger discount.
Likewise, many shopping experts suggest that you shop late in the day if you are on the hunt for a bargain. Large superstores and supermarkets will often knock down prices after 5pm and retailers for luxury or electrical items will be more inclined to get a deal 'in the bag' at 4.30pm than at 9.30am when they are feeling less pressure to get goods sold.
Still ask for a discount on sale items
If an item is on sale, it is more likely that the retailer wants to sell this than newer stock, so don't be afraid to ask for a further reduction. Sales are a great opportunity to really push for discounts as stock really must be shifted. Never assume that because the price is already reduced there isn't room for a further knock down.
Be cheeky and ask for a freebie or some extras
Ask the sales adviser if they can throw in any extras with your purchase - perhaps a free wireless mouse with your laptop, a complimentary case to go with your designer shades, free CDs/DVDs with your entertainment system, free software with your laptop purchase, free memory card with your new digicamera, or an iTunes voucher with your MP3 player. If giving you this smaller item secures the sale, more often than not, you'll be in luck... and quids in.
Multiple buys - multiply your savings
If you are shopping with a friend or relative and you both want to purchase the same or similar products, ask for a discount if you double up. Achieving multiple sales so easily is a welcome relief to a salesperson so they're more likely to agree to knock money off.
The value of vouchers - be a savvy voucher collector
Whether you're heading out for a meal or night on the town, shopping online or hitting the high street visit moneysupermarket.com's new voucher channel to see if there are any discount vouchers or codes that you can make use of.
BOGOF (Buy One Get One Free) and other great deals
Keep an eye out for BOGOF and 3-for-2 offers. Some really savvy shoppers will ONLY shop this way, particularly when shopping for toiletries like shampoo, deodorants, and household products like washing liquid. Retailers know we love these deals and have expanded them into higher value goods such as electrical goods and entertainment goods like CDs and DVDs. Buy in, and either store your spares for the future or perhaps swap with other family members and friends.
Loyalty pays
More and more consumers are enjoying the benefits of loyalty cards. Retailers have stepped up their game by offering better deals and discounts for regular customers so don't ever assume that they are a pointless piece of plastic - statistically women are more likely than men to take advantage of loyalty schemes meaning male shoppers often miss out on cashback vouchers and discounts.
Sit back, relax and shop from home
Why spend hours trawling the high street when you can shop from the comfort of your own home?
Online shopping is convenient and you can often find what you want to a cheaper price if you buy over the internet. Use moneysupermarket's shopping channel to identify which retailer is offering the product you're looking for at the lowest price.
Had a change of heart - check your rights
Always ensure you have read the online shopping site's refunds policy or the store's refund/exchange procedure. In some instances the retailer may not offer a refund unless you have paid the full price for an item, so negotiating a discount could prove a false economy if you later change your mind.
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