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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.

While experts agree that most consumers will be budget conscious this holiday season, and predict sales will be the second worst in 42 years, manufacturers still plan to push some high ticket items such as the new LED ultra thin TVs that go for upwards of $2000.  Vizo is hopeful its latest model, which connects to the internet and comes with a roll out keyboard, will be a hot seller but the $1700 price tag may turn off many.  Most consumers will be looking for deals on small ticket items rather than splurging.  Retailers plan to appeal to this mindset by offering BOGO deals and promoting add-ons and accessories.

What are your plans for this holiday season? Do you plan cut back on gift buying? Let us know what your holiday shopping plans are!

Read [Wall Street Journal]