Last month was the best month for video games as the money spent playing video games in the US hit a record high in the last ten years. The total amount spent on video games hardware and software accessories as well on consoles, reached $6.6 billion according to an NPD Group Report. In 2010, the spending peaked at $7 billion and last month was the best since then.
With the technological advancements in the hardware and software department, the prices of these components have increased dramatically in the last ten years. However, that hasn’t stopped the devoted gamers from spending substantial amounts of money to play their favorite video games. In comparison to June of last year, the sales have increased by up to 26 percent.The cause of such a spike in spending habits on video games items hasn’t necessarily been pinpointed in the report, but it is not hard to understand why it has come to be. The majority of people have free time in their homes due to COVID-19 lockdown, which caused a substantial increase in specific markets, including the gaming market.
The quarterly record of video game sales hit an all-time high in 2020 as well. 2020 will also end with the release of next-gen consoles in the form of Xbox Series X, revealed late last year, and PlayStation 5, which was revealed earlier in June. These new consoles may cause video game sales to spike once more when they are launched later this year.