Consumer Reports has been tracking the prices of 16 popular products — from morning coffee to big-ticket items like appliances and mattresses — to help shoppers better understand how prices rise, fall, and fluctuate over time.
“Some things that you have to buy, some things that would be fun to buy, and other necessities like apparel, things like that,” said Chris Raymond of Consumer Reports.
The goal, Raymond said, is to give consumers a clearer picture of just how dramatically prices can shift. He pointed to a popular Shark vacuum as one example.
“One week it was $119, and at its peak, it was close to $200,” Raymond said. “So it would swing by $40 or $50 a week. We’re seeing it with baby products, a lot of clothing, and footwear. Certainly, in my lifetime, it’s unprecedented, just the sheer number of products that increase in price and then how frequently that happens.”
Raymond said when and how consumers buy can make a significant difference. He encouraged shoppers to research prices before purchasing.
“The more you do your research, the more you kind of find, ‘OK, I’m paying a reasonable price for it,’ or ‘That’s outrageous, and I’ve got to find another way to get that item,’” he said.
For electronics, Consumer Reports suggests considering older models, noting that TVs, phones, and laptops that are a year or two old can cost hundreds of dollars less. Refurbished products are another option Raymond strongly endorses.
“They take it. They clean it up. They replace parts. And you get it with a new one-year warranty,” he said. “There’s no better deal in my mind than getting a refurbished item.”
Shoppers buying new should also be cautious of flashy discount promotions, Raymond warned.
“I have seen instances where the price goes up a few weeks before the sale begins, so they can make it look like they’re slashing 30% when maybe they’re only giving you 5% or 10% off,” he said.
Raymond’s bottom line for consumers: do your homework, watch for price patterns, and act quickly when the timing is right.
“When it hits the low, pounce on it,” he said.