4 Best Things to Buy in 2023 (Plus 4 of the Worst)

2. Seasonal goods

Savvy shoppers know they get the best deals on holiday decor if they wait until the festivities are over, and that remains true in 2023. Consumers looking for an artificial Christmas tree or an inflatable snowman for the front lawn will find steep discounts. But the deals go beyond holiday-themed products. You can save a bundle on fall clothing, winter apparel and other seasonal items as well. Shipments of products retailers expected to sell in November are only coming in now, just as retailers are beginning to transition to spring merchandise. That means bargains abound on the late-arriving fall/winter merchandise. “It’s a good time for quick-eyed bargain hunters,” says Chris Kuehl, managing director of Armada Corporate Intelligence, a market analytics firm. 

3. TVs and electronics

TV prices fell 14.4 percent year over year in December, according to the Consumer Price Index. More declines are expected in 2023 as demand slows and technology advances. As for electronics, while retailers can store late shipments in warehouses, they are likely to discount 2022 models to make room for 2023 ones. That provides an opportunity for consumers to get last year’s computer models and other gadgets cheaper. “Retailers are a little more reticent to hang on to things like gaming systems and computers that get dated,” says Kuehl. ​

4. Fruits and veggies

All the rain and snow pounding the West Coast is doing wonders for the drought and for farmers’ crops. As a result, Kuehl says many farmers are planting aggressively, which will greatly improve production coming out of California. “This rain is perfectly timed. Farmers haven’t had this soil moisture in the last few years,” says Kuehl. “It will drive prices down for things like fruits and veggies.” That will be welcome news since fruit and vegetable prices were up 8.4 percent year over year in December. ​

Avoid buying

1. Meat and poultry

Prices for meat and poultry were elevated throughout 2022, and more of the same is expected in the coming months. “A lot of ranchers reduced the size of the herds because they were having trouble getting feed,” says Kuehl. “They are coming into the spring with a smaller herd than usual. A couple of outbreaks of  avian flu are causing the destruction of some poultry stocks, which will have an effect on prices.” ​

2. Anything you have to finance

Since the start of 2022, the Federal Reserve has raised interest rates seven times. That has a direct impact on the cost to finance, whether you’re buying a big-ticket item, new car or home. If you are in the market for any of the above and can't pay cash, expect to pay a lot more to finance the purchase in 2023. “You may want to think about avoiding purchasing things like a home or automobile,” says Emily Irwin, senior director of advice and planning for Wells Fargo Wealth & Investment Management. “Many individuals will finance those purchases, and rates will be higher.” ​

3. Airline tickets

With COVID-19 restrictions lifted, Americans are traveling again, which is leading to packed flights and long lines at airports across the country. It’s also driving the price of airfare higher, even though jet fuel costs have come down. If you plan to travel in the U.S., expect to pay 2.9 percent more for economy airfare. Thinking about traveling to the Caribbean or Asia? Expect to pay 5.8 percent and 9.5 percent more, respectively, according to American Express Global Business Travel forecast. If you can't avoid flying in 2023, try these tricks to save on airfare.​

4. Restaurant meals

The price of dining out likely went up between 7 and 8 percent last year, according to USDA projections, which anticipate that trend to slow in 2023. But eating out will still cost you between 4 and 5 percent more. “Inflation is going to continue until gas prices and oil prices are back down to historical levels,” says Howard Dvorkin, chairman of Debt.com. “Food is grown, there’s tractors involved or some kind of manufacturing that takes energy, and that’s the problem. Food both at the grocery store and restaurant is outrageous.”