This year’s hot holiday tech trend: cheap gadgets

With the economy still on a downturn, tech retailers are preparing for the upcoming holiday season by offering a variety of cheap gadgets. With no hot new must have gadget this year and consumers not as willing to snap up pricey gadgets, retailers are hoping that cheap gadgets will have enough appeal to keep their sales up.

Netbooks, digital cameras, digital picture frames and speakers are some of the items retailers are hoping will be big sellers for the frugal set. Best Buy is also hoping to cash in on the growing popularity of e-books by setting up sections in stores dedicated to several varieties of e-readers all going for less than Amazon’s Kindle. RadioShack is offering a 7 inch portable TV for $199, and Microsoft, Sony, and Nintendo have all slashed prices on their video game consoles. Walmart meanwhile has dropped the price of some Blu-ray players to $99.

Some retailers, such as Sears and Kmart, are hoping their layaway programs will help encourage consumers to make some big ticket purchases. Electronics are already the most popular items placed on layaway. Sears also plans to follow Best Buy’s lead and offer e-readers this holiday season.