• by Laurie Sullivan , Staff Writer @lauriesullivan, April 10, 2023

Consumers looking for better prices online got a surprise in March, which could be a positive sign for online marketers.

Online prices fell 1.7% in March 2023 compared with the prior year. Prices remained flat compared with February 2023.

The Adobe Digital Price Index (DPI) tracks 18 categories annually. The data shows that price increases for groceries continues to see a slowdown.

Grocery prices rose 10.3% year-over-year (YoY) and 0.4% month-over-month (MoM). They were down in March, compared with February 2023, noted as an 11.4% YoY increase. This marks the sixth consecutive month where YoY price increases for groceries have decelerated from September’s record high, when prices rose 14.3% YoY.

Categories such as home and garden, appliances and electronics continue to see price drops.

The March YoY price decline was driven by steep drops in discretionary categories including electronics, which fell 12.9% YoY and 1.3% MoM. Toys fell 6.6% YoY and 1.2% MoM.

Prices also fell YoY for home goods. Appliances fell 4.9% YoY, but rose 0.8% MoM.

Prices for home and garden products fell 4.9% YoY and 0.3% MoM. Furniture and bedding product prices fell 0.9% YoY and 0.3% MoM. 

In personal care, prices rose 4.4% YoY, but fell 1.5% MoM. In apparel, prices rose 6.6% YoY -- up 1.8% MoM. 

DPI analyzes one trillion visits to retail sites and more than 100 million SKUs across 18 product categories: electronics, apparel, appliances, books, toys, computers, groceries, furniture & bedding, tools & home improvement, home & garden, pet products, jewelry, medical equipment & supplies, sporting goods, personal care products, flowers & related gifts, non-prescription drugs and office supplies. 

Ten of the DPI’s 18 categories in March experienced YoY price decreases, with the flowers and related gifts category seeing the biggest decline at 24.3% YoY.

Eight categories experienced YoY price increases including personal care, office supplies, pet products, groceries, non-prescription drugs, tools & home improvement, medical equipment & supplies and apparel.