Holy Freaking Crap! Wow Video Games Are Recession Proof

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The Economis says that video games are recession proof so far..


Do you believe this, one of the few industries that does not take a big blow during a recession. Video Games.


IS IT any surprise that an industry that enables its customers to escape from reality into elaborate fantasy worlds is thriving in today’s gloomy economic climate? As other industries collapse, sales of video games are racing away. Global sales of console hardware and games software are expected to hit a record $49.9 billion this year, says Screen Digest, a consulting firm (see chart). Games sales in America in October totalled $697m, 35% more than a year earlier, according to NPD, a market-research firm. It is often said that video games are recession-proof. Are they really?

Video gaming is isolated from the wider economic cycle by having a cycle of its own. Every few years a new crop of consoles is launched, spurring a wave of sales as gamers upgrade. (Today’s set consists of Microsoft’s Xbox 360, launched in 2005, and Sony’s PlayStation 3 and the Nintendo Wii, which both appeared in 2006.) During the cycle the prices of the consoles fall, bringing in more buyers. Each cycle is bigger than the last as gaming becomes more popular and the average gamer becomes older and richer.

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I wouldn't doubt it, just thinking about it would still make teens/kids/adults get them.

 

We are far from the point where people are totally sacrificing their entertainment. Generally, the things that are probably being hit the hardest would be movies, clubbing, and the more expensive activities I would think. I think most peoples logic is that they can get a video game and be able to sit at home every weekend rather than continuously spending money. Gaming isn't really that expensive when you compare to other things.

 

that's because all the out-of-work 50 year olds are at home now playing video games with their sons.

 

Now in society people still won't sacrifice their entertainment unless it is financially necessary. It is pretty swell the video game industries are doing well because I've heard that it's really hard to market video games because most times you make 2$ profit for each product they sell and the prices can drop dramatically just within weeks!