Flat-panel TVs, laptops, camcorders, GPS devices, and video-game consoles are all being sold at record-low prices. As we head into the heart of the holiday shopping season, Wal-Mart is planning on big price reductions on toys too.
A recent check on the flat-panel TV market put the average price at $630—down from over $900 a year ago. Camcorders cost $275 on average, down from $360. Prices on Wii, Playstation 3, and Xbox 360 consoles have all come down recently between $50 and $100. All of the markdowns are aimed at prodding consumers out of their recession-influenced saving mode and into the spending mode. The fact that retailers keep on going the deep-discounting route on electronics, gadgets, books from best-selling authors, and other items is a sure indicator that this will be a merry shopping season for holiday bargain hunters. Read more on the trend at the WSJ.
While the company fell short of backing up its latest promises with details, it promised to reduce prices on toys, groceries and other hot-selling items by hundreds of millions of dollars through price promotions that will accelerate as Christmas draws nearer.
As evidence of its plans, it cited current promotions, which included a 27% discount on the RipStik skateboard to $49.