Finding deals and saving money whenever possible feels great. In fact, we normally suggest you shop around to find the lowest price or a special promotion that will save you money. However, some goods rarely have discounts and you would be wasting your time looking for a better price. It is not impossible to find discounts on the items listed below, but they would be considered very rare.
Brand New Technology
Early adopters pay a hefty price to get their hands on the latest technology before everyone else. Manufacturers know this and generally set prices high when new technology first hits the market. Some people will pay anything to be the first person with the latest smartphone, so companies rarely, if ever, discount their goods within the first phase of the product’s lifecycle.
Most luxury items never end up going on sale. The appeal of luxury items is the fact that not everyone can afford them. They are rare and being able to afford them allows people to feel like these goods give them a higher social status. Due to this unique situation, it would not make sense for luxury retailers to discount their goods. In fact, it could make the items less desirable.
Specialty items are another group of items that rarely go on sale. Some of these items are never discounted because they are only made by one company. If that is the case, that company has complete control of the supply, which means they can charge whatever price they choose. Other items are based on once–in-a-lifetime events, such as weddings. People will pay almost anything to have the perfect item for a special event.
Goods with Minimum Advertised Price Arrangements
If you notice that prices for an item are the same everywhere you look, chances are the retailer and the manufacturer have entered into a minimum advertised price arrangement (MAP). Basically, a MAP means retailers will not advertise a price lower than the MAP specifies. They may charge a lower price, but they just cannot advertise it. You will often see this on websites where an item is listed as a price “too good to show” and the site requires you to put it in your shopping cart to see the final price.
Other MAP arrangements will not allow the shopping cart trick, such as Canon with its digital cameras and lenses. To find these deals, you must contact retailers directly and ask if any further discounts exist. Some of these MAP arrangements really do require retailers to stick to their guns and charge the minimum price, much like Apple does with its iPhones and iPods.
Hot Items Where Demand Is Greater than the Supply
As a general rule, if there is an item where the supply is smaller than the demand for it, you should not be able to find any discounts. In fact, you might have to pay a premium for these items. New game consoles, Furbies and Tickle Me Elmo dolls all experienced this phenomenon around Christmas when they were released.
Two Ways to Save Money on These Items
Two ways exist to save money on these items that are never discounted. Instead of buying many of these items brand new, buy them used. The other way to save is to wait until newer technology has been released or the supply has been replenished and the price naturally drops. Other than these two methods, it is usually a waste of time to compare prices on items that fall into these categories, as they are seldom discounted.
More From MoneyTips: