It looks like people have the game hardware they want or need right now. According to the latest sales data from Circana, US video game hardware sales saw a drastic year-over-year decline in August 2024.
Per the sales data, hardware spending fell from roughly $325 million to $208 million. That’s a 36% drop year-over-year. It was also added that each current-generation console had at least a 34% fall in sales compared to August 2023. The Nintendo Switch had the furthest fall at 41%.
While steep, the drop in sales shouldn’t be surprising. The current-generation Xbox Series X|S and PlayStation 5 consoles are almost four years old, and most players who would buy them already have them. The Nintendo Switch is over seven years old and is set to be replaced, so the near 50% year-over-year fall is somewhat expected.
The PS5 Pro launch should see a jump in sales later this year, but it won’t move the needle all too much with its $700 price point. The holiday shopping season will also see an uptick in sales in some way.
Sticking with cost, money likely plays a large factor in hardware sales. With basic goods and services more expensive now than ever before, spending money on things like video game consoles and other hardware can take a backseat on the priority list.
Also falling in August, but not nearly as much, were accessory sales as they fell 3% to $173 million.
“Growth in the Remote Play Device segment (PlayStation Portal), was offset by a 10% year-on-year decline in Gamepad spending,” Mat Piscatella of Circana said.
What do you make of video game hardware sales falling so much year-over-year? Let us know below or in the official Insider Gaming Forums.
For more Insider Gaming, check out what game remains the best-selling in the United States for all of 2024. And don’t forget to sign up for our weekly newsletter.
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