- November saw a decrease in appetite for gaming hardware sales
- Xbox was hit hardest, with a steep 70% year-over-year decline
- The company’s price increases, among other factors, are likely behind
This year, especially the month of November and its various end-of-year events like Black Friday, has not been favorable for gaming hardware sales.
While the Nintendo Switch 2 has enjoyed great success during its first six months on the market, the same can’t really be said for other console manufacturers. Speaking to IGN, Circana Senior Director and Industry Analyst Mat Piscatella revealed that PS5 sales were down 40% year-over-year. This is despite heavy discounts on PlayStation hardware last month.
Even Nintendo suffered slightly, with combined sales of the Switch 2 and original Switch down 10% compared to last year’s Switch-only performance. Although it was Microsoft’s Xbox line that fell the hardest, with a frankly staggering 70% year-over-year drop.
There are several clear reasons for this decline. While all the major console makers have implemented price increases on their hardware, Microsoft has been particularly aggressive. In May, the price of the Xbox Series X|S jumped by $100 in the United States. A few months later, in September, another price hike hit consoles.
The worst offenders being the Xbox Series Yes, it’s $100 more than a PS5 Pro.
When you factor in these price hikes with Xbox’s cross-platform strategy – meaning you can essentially get its games and services on other platforms – it’s easy to see why consumers would have little appetite for Microsoft products.
Of course, there is also the current global cost of living crisis to consider. In a world where basic necessities are becoming more and more expensive, and at an alarming rate, it’s especially difficult to justify dropping $800 for a half-decade-old games console.
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