Poor People Turning to Video Games
Just because the economy is slumping, that doesn’t mean people stop playing video games. In fact, video game and console sales increased during the month of October.
The Nintendo Wii (NTDOY), Micrsoft Xbox 360, and even the horrible Sony Playstation (SNE) all increased in sales from September.
While this news is good for the short term, it also benefits us as the holiday season has knocked on our door. With increased sales of consoles, you can almost rest assure that a healthy amount of video games will be gifted over the holidays.
Although it might seem odd to see an increase in these numbers during a rough economy, it actually makes complete sense. Nowadays, console systems have come out with several ways to entertain the whole family. You can watch movies and play games of all levels and genres.
With consumers having a hard time spending money, buying a video game console can help them save. They don’t have to spend money on gas or other forms of entertainment that adds up to be more costly.
So keep an eye on these numbers for the next couple of months and see if this trend continues.
Other popular video game tickers to watch: ERTS, GME, ATVI
Filed Under: Financial Markets
Tags: video games
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Yea many people have purchased systems because of the blue ray feature. With that being said, I feel that people need something to distract themselves with instead of watching the media. the media seems to just frighten everyone and it paints such a brutal picture. “Feel good movies” and video games are going to do well the next little while.
Yeah. I know I definitely am.