The video game
industry has seen
a positive trend
since it’s emergence
in the late
70’s. With the
advancement of technology,
video games sales
have skyrocketed. During
the 90’s, the
Super Nintendo Entertainment
System ranged from
$80 to $90. Now,
the Nintendo Wii U
price ranges in
the $300 dollar
mark. And that’s
the cheapest console
of the three
main video game
consoles. The upcoming
release of both
Play Station 4 and
Xbox One, which
will be sold
from $400 to
$500 further points
to the fact
that video games
have come a
long way. According
to the July
28, 2009 article,
“Videogame Makers Can’t
Dodge Recession” in
the Wall Street
Journal, “the video
game industry was
racking up strong
growth even as
other businesses reported
sharp declines in
sales and profits.
U.S. videogame sales
jumped 10% in
January as consumers
snapped up $60
to $70 games,
which can bring
dozens of hours
of at-home family
entertainment.” But since
then, the industry
has seen a
plunge in sales
by a record
of 29% year
over year according
to market-research firm
NPD group. Microsoft’s
Xbox 360 and
Nintendo’s Wii plummeted
38% since March
of 2009.But with
yearly releases of
console staples such
as the Call
Of Duty franchise,
which this years
entry sold over
one billion dollars
worth of copies
in fifteen days,
should boost sales
and morale amongst
the industry. Not
to mention the
surge of great
video game releases
around the holiday
season, which always
brings a boost
to the economy.
As a gamer,
I’ve been a
witness to the
long lines at the local
Game Stop, as well
as the news
stories showcasing the
lines outside of
electronic stores the
night before the
release of new
game consoles. Still,
game makers and
retailers are likely
to run into
choosier consumers, who
rather wait a
few months for
the prices of
games and consoles
to drop in
price.
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