Retail Electronics Buying Tips: Coupons, Sales and Bargaining Tactics

Pay in cash.

Swiping plastic might be the easiest way for you to walk out of the store with a 52-inch flat screen, but retailers cringe at the sight of credit, which costs them big bucks in processing fees. Most retailers lose at least 2 percent of every purchase, plus individual transaction fees, monthly maintenance fees, and more. It all adds up, especially on that $3,000 television, which is why they might be willing to cut you a break if you show up with a wad of green. “Ask if they offer cash discounts,” says Storm. “Sometimes, arriving to the store with cash in hand is very appealing.”

On the other hand, don’t forget that some consumer credit cards offer up to 5 percent cash back on certain types of purchases, which might eclipse the potential discount, depending on what a retailer offers.

Pass on the extended warranties.

Peace of mind is a beautiful thing. But unless the thought of your new laptop starting to hum then needing a $40 fan replacement is giving you night terrors, most of the extended warranties consumer electronics retailers try to push just aren’t a financially sound idea.

“I would say statistically, the way it goes with technology, an extended warranty is not worth the money,” says Fiedler. And some pretty extensive research from Consumer Reports agrees.

First off, electronics rarely break down within the warranty period. For instance, Consumer Reports’ research shows that only 3 percent of flat-screen TVs needed repair within the first three years of ownership, making them incredibly reliable. And if they do, you’re not saving much money. “Usually, the amount that the repair would have cost you in the first place is same as the extended warranty anyway,” says Fiedler.

The price of technology makes the warranty an even worse investment. “If it does break after three or four years, with prices constantly dropping, there’s a good chance you’re going to be able to get a brand new one for a little bit more than you would have paid to repair it,” says Storm. Like replacing a $1,000 ultralight laptop from 2006 with one of today’s $350 netbooks.

Bare shelves? Grab a rain check.

Retailers routinely run out of the hottest sale items. It’s part of the game they play. “Loss leaders and door busters are probably going to be kept in low inventory,” says Fiedler. “Just enough to make us salivate and run to the store.”

But don’t turn around and go home disappointed when you’re greeted with a “sold out” sign. Ask for a rain check.

“A lot of times, they’ll give you a rain check and you can get the sale price when the item comes in,” says Storm. It can work to your advantage, too. “When an item comes in and you have a rain check, maybe a new coupon has showed up. So you can not only get the sale price, you can use a coupon on it, too. It’s not always a bad thing.”

Shop during off hours.

Many of the tips we’ve discussed here, like paying in cash or getting money off for scratch and dent merchandise, will require the ear of a helpful store employee. And you’re not going to get an apathetic college kid to bend over backwards for you when the register line snakes all the way to the back of the store. “If you can go during off hours, and avoid peak times, like in the evenings or Friday or Saturday afternoon, that’s probably when you’re going to get the best personal attention,” says Storm. “Especially if you are really looking for a good deal or using a lot of coupons.”

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