There has been much talk about the high prices we are being forced to pay. I came across an article on Yahoo that has a list of items that have either come down in price or have stayed the same, here goes:
Electronics -The average price of a point-and-shoot digital camera has fallen $28 from a year ago, to| $178, according to the NPD Group, a consumer tracking service. The cost of LCD flat-panel TVs is also expected to drop $18 this year, to an average $848, while notebook computers are forecast to fall 9 percent, to $775, according to the Consumer Electronics Association. The trade group says you can also expect lower prices this year for plasma TVs, DVRs, desktop computers and cellular phones.
That’s because as time passes, companies can more efficiently produce the equipment, Vice President of the National Retail Federation Scott Krugman said. The speed at which new products are released also has an influence. “What is new is now old so much faster,” he said. “Prices come down sharply.” Uh, huh. And when faced with the decision to buy a giant plasma with HDTV or food for my babies… it ain’t gonna be a new TV buddy.
Women’s Clothing -Another area to spot savings is women’s apparel, even though the price for men’s and children’s clothing is on the rise, according to the CPI’s April 2008 report.
“It’s a much smaller part of the overall retail business,” George Whalin, president and CEO of Retail Management Consultants, said. “Men buy clothes as needed, whereas women buy clothes based on a whole variety of other reasons.”
If a female consumer went to a clothing store today, she would pay at least 4 percent less than she did a year ago for a pair of pants/slacks, which have an average price of $19.07, according to NPD. The price of women’s shorts decreased from $14.20 to $13.81, almost 3 percent, and the overall price of women’s sleepwear decreased $0.85, averaging at $13.25. Each of the subcategories — pajamas, nightgowns, sleep shirts and negligees — all posted falling prices. Usually I feel the need for new clothes when I go on a trip (you have to look good right?) but since I can’t afford to go on a trip what do I care if shorts cost 39 cents less? Jeez, I could buy almost 3 gallons of gas for the same price as a pair of shorts!
Hotel Rooms -There’s more good news. For travelers left sulking about increasing flight costs, the average daily rate for hotel lodging decreased in the month of April, down from $109.44 to $108.07, according to Smith Travel Research, of Hendersonville, Tenn.
This slight price reduction mainly stems from a decrease in business travel, JP Morgan economist Glassman said. “People start realizing that phone calls or teleconferences can work,” he said. Um, still can’t afford to fly or drive anywhere so why would I need a hotel room? Duh!
Theme Parks -And if lower hotel prices inspire consumers to take a vacation, it might include a trip to a theme park, where prices are also falling. Six Flags (NYSE:SIX - News) cut $10 off entry prices at the majority of their 19 parks in April, setting admission at $34.99 for its St. Louis park and $24.99 for the Texas-based Hurricane Harbor water park.
“People just aren’t going out as much,” Glassman said. “People are getting squeezed, and they’re starting to push back.” Wow! A whopping $10 off! It will cost me at least 5 or 6 times that to drive up to Six Flaggs and the same amount on the return trip home.
Toys -If the kids complain about not going anywhere this summer, you can try to appease them with another cheaper item: toys. The severe competition in this industry, paired with cheap overseas production costs, caused this steady 5.3 percent year-on-year decrease, Glassman said. Demographics may also play a role. The industry’s target audience is shrinking, as the nation’s second largest demographic, 15- to 25-year-olds, has simply outgrown its products, Glassman said. Ah, what kind of toys are we talking here folks? Pretty much all the 15-25 year olds I know only want electronics or products that work with electronics. Last I checked they weren’t playing with Tickle Me Elmo!
“As there are fewer and fewer children, it’s going to have an effect on the toy industry,” he said.
Dinnerware -Household goods brought more price cuts, particularly in dinnerware, according to NPD. Although prices didn’t decline for every product in this category, the price of formal, fine dinnerware, which NPD defines as bone china or porcelain with a metal accent band, decreased about 6 percent, falling from $39.58 to $37.10. Plastic dinnerware fell from $1.95 to $1.74, on average, and multi-pack sales saw the biggest reduction, falling 14 percent to $7.42. Generic multi-pack dinnerware, the bulk packaging of one identical item, averaged at $11.66 in May 2005. You may have me here. Except that plastic dinnerware is not very PC. And I was thinking of finally getting that fine bone china 300 piece place setting I’ve been eyeing in Sakes since 1992. Oh but wait… I can’t afford to fill those plates with any food. Bummer.