How much are you willing to drop a price if a customer wants to haggle? Or are you willing to drop it all? Better start thinking about it, because the big-box stores are already doing it, according to a story from the New York Times News Service.

Haggling goes on in mercados, souks and marketplaces all over the world. Yet it’s a rare practice among most American retailers. Maybe now is a good time for it to become a retail trend.

I didn’t know that many Best Buy and Home Depot stores are willing to knock down prices for insistent customers, especially if they buy a value-add like a service warranty. It makes good sense for the big guys to allow haggling because they can absorb the discount. But should smaller retailers do the same?

I say go for it if it means holding on to a loyal customer or reeling in a new one. Like the article says, brief your staff on how much they’re allowed to lower prices. Don’t tell them to encourage haggling, but train them on how to handle the occasional haggler. Word will get around soon enough as one customer tells another about the great deal they got at your store, and the great service.

The Internet and eBay have empowered consumers to shop around for the best deal on many purchases. The best way to empower your business is to go with the flow. Give haggling a try, within reason. In this economy, it may be the answer to a problem you didn’t even know you had.