US shoppers set for cheapest holiday toys, coats and dresses in years
By Siddharth Cavale and Amina Niasse
NEW YORK (Reuters) -The battleground for retailers this U.S. holiday season is over merchandise priced at $35 and less, setting the stage for the cheapest shopping period in years for TVs, toys, dresses, and sporting goods, according to retail executives, federal pricing data and exclusive analysis of early Black Friday discounts.
Toys, games and hobby gear are on track to be less expensive this holiday season for the first time since 2020, while sporting goods prices are down this holiday for the first time since 2018, data from the Bureau of Labor Statistics (BLS)showed.
The price of a TV is three-fourths of what it was in 2019, while men's suits, outerwear, sports coats, women's dresses and audio equipment are 8% to 14% cheaper compared with pre-pandemic levels, BLS data for October shows.
«The deals are really good on TVs,» said Theresa Forsberg, who picked up a 55-inch for $188 at Walmart (NYSE:WMT) in New Milford, Connecticut, on Black Friday. Jill Lizzo, in New York's Harlem, found bargains on toothpaste and Christmas decorations at Target this year, a relief because her rent is more expensive.
To be sure, prices overall are higher in 2023 despite slowed price growth, with October's consumer price index climbing to 3.2% year-over-year. The figure remained flat on a month-over-month basis, signaling some holiday item prices may be slow to come down.
Despite a dip in sporting goods prices, they continue to pace above 2019 levels. Girls' apparel has also remained above pandemic-era levels, while the average price of furniture has steadily risen since September.
Certain prices are falling after pandemic-induced kinks in the supply chain and a huge shift in demand toward goods
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