Hardware Sales Decline: A 30-Year Low in November
In a shocking turn of events, hardware sales and physical game spending in the US have hit their lowest levels in 30 years this November. According to market research firm Circana, only 1.6 million units of video game hardware were sold, marking the worst performance since 1995. With a staggering 27% drop in monthly hardware spending compared to last year, the total reached just $695 million, the lowest since 2005.
The high average price of $439 for new hardware units, an all-time peak, has likely deterred consumers during a month typically bustling with Black Friday and holiday shopping. The PlayStation 5 emerged as the best-selling console, while physical software sales also plummeted by 14%, indicating a significant shift towards digital sales.
As the gaming industry grapples with these challenges, one has to wonder: can console manufacturers find a way to lower prices amidst rising component costs, or are we witnessing a fundamental shift in how consumers engage with gaming?
Original source: https://www.videogameschronicle.com/news/hardware-sales-and-physical-game-spending-in-the-us-just-had-the-worst-november-in-30-years/