What items will get less expensive this year? Here's a quick breakdown:
Item 2010 Lowest Price 2011 Lowest Price
Blu-Ray Player $50 $39
Kindle 3 wifi $130 $99
42" HDTV $370 $299
55" HDTV $699 $599
Wii System Bundle $150 $99
16 GB SD Card $17 $12
Full-Size Digital SLR Camera $319 $299
15"-16" Dual Core Laptop $218 $199
17" Dual Core Laptop $450 $399
Portable GPS $45 $40
External 2T USB Drives $90 $50
iPhone 3 GS $97 $49
Now the question is what do you do with this information. When I spoke with Mark LoCastro, a spokesman for Dealnews.com, he couldn't tell me when we'll see these lower prices other than to say it would be sometime this year. He also warned there is a good chance inventory will be limited. So if you don't buy a 42" HDTV the moment you see it offered for $299, you might miss the opportunity to grab the deal.
The Game Plan
So how should the average consumer snag a great deal? LoCastro recommends setting up a Dealnews.com email alert for the product you covet. Then as soon as the sale is identified by the website, you should get out your credit card and immediately buy the item online.
I have to admit that with such limited inventory, I'm beginning to wonder if these deals legitimate? LoCastro promises that all of the specials listed on Dealnews.com are vetted by the company. If you act quickly, he says, there's no reason you shouldn't get the gadget you want at the new, low price.
Well, if that's the case, then I think I will hold off on a new TV and wait for the deals. My husband bought a Kindle last year exactly two weeks before Amazon announced it was slashing prices on its device. Frankly, we don't want to make that mistake again.
Will you wait for prices to drop?
Stacey Bradford is the author of The Wall Street Journal Financial Guidebook for New Parents.
My iPhone 3G Home Screen image courtesy of Flickr, CC 2.0.
More on CBS MoneyWatch:
Financial Gifts: Should There Be Strings Attached?
The Internet: How to Spy on Your Teenager
iPad Rules for Kids
Are eBooks Okay for Small Children?