How To Buy Expensive Products At Cheaper Rates In Nigeria
How To Buy Expensive Products At Cheaper Rates in Nigeria
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The same way every producers/sellers are striving to make profits from their sales, is the same way buyers/customers are looking for ways to buy at cheaper rates.
Considering how the Economy is currently going, every household need to find ways of spending less on expensive things.
There is one irrational habit I noticed about some rich people. Some of them prefer buying products at high price because they believe that the higher the price, the higher the quality. This is why they can buy product worth N20,000 for N50,000 which to me is irrational.
If you want to know how to buy an expensive products at cheaper price, I will give you three strategies to achieve that. Below are the strategies;
1. Avoid Patronising Monopolists.
A Monopolists is a person who has Monopoly. As a Monopolist, he or she has the exclusive right to sell a particular product which means there would be no competitors. When it happens that only one person is the seller of a product, the demand for that product will be high and when the demand is high, the price will equally be high. This means buying from them will mean buying at expensive price. What you should have done instead is to buy from where there is competition. A Monopsony is the perfect market to buy from because that's a market of many sellers and one buyer. When you buy from this type of market, the sellers will be begging you to buy from them. They will also reduce price for you just to make you their customer.
2. Avoid Expensive Outlets. To avoid buying things at expensive price, you need to avoid expensive places. A shoe sold for N2,000 by Emeka the shoe seller can be sold at the boutique for N4,000 because In the boutique, you can't negotiate and you pay for Value added tax as well. There is no prestige in buying what Chika bought for N5,000 at the rate of N10,000 when it's obvious the quality is the same. Avoid expensive outlets.
3. Eliminate the middle men.
Retailers who buys from either the wholesalers or the producers must have incurred further expenses before conveying such products back to base. This extra expenses is in turn added to the selling price which means buying from them will be more expensive than buying from the producers.
If you are buying in large quantity, it is advisable to eliminate both wholesalers and retailers and buy from the producers directly. They will sell for you at cheaper price.
If you are not buying at large quantity, I will advise you to eliminate only the retailer and buy from the wholesalers. It will be cheaper than buying from the retailers.
I hope these three strategies are helpful. Please don't forget to like and share the article .