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In spite of dip in consumer spending, video game sales up 18 percent
2008-11-15 19:12:49 (GMT) (Caymanmama.com - Business Technology News)
Even though consumer sales are falling with the pinch of economic stress, video game sales are going strong
Denver, Colorado (CaymanMama.com) — News reports are painting a bleak picture for the holiday season as consumers have shied away from the marketplace due to the worst financial crisis in seven decades by cutting back sharply on their spending last month, plunging retail sales down by a record amount.
According to a recent report by Reuters, one division of the marketplace isn’t feeling the sting and is actually faring better than most. American videogame hardware and software sales rose 18 percent in October from the previous year, after falling 7 percent in September.
These impressive numbers also reflect Nintendo Co Ltd’s Wii console which sold over 800,000 units, according to market researcher NPD.
Video machine makers said the results are promising for the upcoming holiday season.
The Wii console once again made a name for itself as the nation’s best-selling videogame console after Nintendo sold 803,210 Wii units in October, up from 687,000 in September. Overall sales of the Wii have topped 13 million units since its release in November 2006.
“We feel cautiously optimistic (going into the holidays), we don’t see anything in this (NPD) data that leads us to believe there’s a pullback,” said Microsoft spokesman David Dennis.
The video game industry is expected to top $22 billion in 2008, according to NPD. Nationwide sales of videogames hardware, software and accessories brought in revenue of $1.35 billion in October, with accessories sales falling only by 8 percent.
With the holidays drawing closer, accessories sales are expected to pick up next month with an increase in hardware sales during that time.
This information brought to you by Duplium Corporation, a Nintendo Certified packaging, CD/DVD duplication company.
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