If you thought that video games were becoming too expensive, and the Switch 2 was overhyped for the price, you might not be alone.
Market research firm Circana recently published data suggesting that young adults spent 25% less than they did in a similar time frame last year.
The drop off was most noticeable for the 18–24 year old age group, with other age groups only seeing single digit drops. Other categories, such as prestige beauty and furniture, have not been hit as hard by the Zoomer budgeting crisis.
There are numerous factors that could have led to this outcome. Gen Z has been having recent economic struggles, so many in this age bracket have taken a closer look at their finances.
This is great for those of us in this generation that are trying to save their money. But for the video game industry, this could be a warning sign. Despite often high profits amongst bigger studios, the industry has already faced several layoffs. This could potentially signal more, as the rise of free games continues with platforms like Roblox continue to break records.
Feel free to comment how you feel about this. As someone who once wanted to work in game development, I will always be glad that I picked up multiple different skills related to different industries.
Only time will tell what the future of video games has in store.
Comments
Post a Comment