This is not surprising in the least. The country is still waste deep in it, so people spending less money is an obvious reaction. If only they'd listen to Kyle and just continue to spend...
Intent to Purchase Holiday Games Down
A recent NPD study reveals that more people will be holding on to their spending dollars due to the struggling US economy.
NPD is known to conduct various consumer surveys in order to gauge the interests and spending patterns of consumers. Their latest annual survey of consumers' holiday spending intentions has revealed that 30% of consumers intend to spend less than last year on holiday gifts.
In comparison to last year, only 26% had stated the same intention. Though only a 4% change, given the population size of the United States, the number of people spending less is quite significant.
Marshal Cohen, chief industry analyst claims that the "4 percent increase is certainly a sign of the times. On the other hand, that 4 percent is not as dramatic as it could have been." He goes on to say that "consumers will be looking for the right gift, rather than the most extravagant or expensive one."
Video games in particular will be taking a hit as well, as only 20% of consumers plan to buy games this season. This is a 2% decrease from last year, and again, given the US population that 2% is enormous. This may bode particularly bad for certain companies who rely heavily on quarter four sales.
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