Barring troglodytism or a severe case of denial, it's pretty safe to say that everyone knows the US (and, we hear, global) economy isn't doing too hot at the moment. Although the video game industry clearly isn't recession proof, Wedbush Morgan analyst Michael Pachter does think that October's NPD hardware sales numbers (expected later this week) will show how recession resistant it is.
Pachter believes that all three consoles are going strong into the holiday season and expects an 18% hardware sales increase over last year. If he's correct, he believes investors should take it as a sign that the video game industry will do better than the average business during the recession. If hardware sales go down in October, Pachter believes the recession would then have infected the industry ... and darkness shall sweep across the lands.
Reader Comments (17)
Posted: Nov 10th 2008 7:38PM (Unverified) said
All I can say is I saw some soccer moms picking up some Wiis that had just arrived at my local Best Buy...
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Posted: Nov 10th 2008 7:57PM (Unverified) said
hear hear.
god im so worryed about how its ganna work out thesedays.
Reply
god im so worryed about how its ganna work out thesedays.
Posted: Nov 10th 2008 8:00PM Johnnynumber5 is powered by cell said
My fiance and I have completely eliminated our entertainment budget of movies, music, blu-ray's, eating out, magazines and PPV events in favor of video games. Even though the expense is a bit more initially you get far more bang for your buck in the long run.
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Posted: Nov 10th 2008 8:02PM Johnnynumber5 is powered by cell said
we are still purchasing 4-5 new books each month though. I would highly recommend The Kite Runner for anyone who loves a good book.
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Posted: Nov 10th 2008 11:11PM Johnnynumber5 is powered by cell said
Thats true Khan. I usually just have those roms on my PSP.
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Posted: Nov 10th 2008 8:21PM (Unverified) said
Does anyone even take Pachter seriously anymore?
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Posted: Nov 10th 2008 8:53PM (Unverified) said
No. Like all Analysts, he's human and has flawed answers.
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Posted: Nov 10th 2008 9:00PM Johnnynumber5 is powered by cell said
It was actually proven that Patcher is one of the top analyst statistics wise. There was an article here on Joystiq if memory serves me correct.
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Posted: Nov 10th 2008 9:21PM (Unverified) said
Well, that's saying a lot, I guess. Maybe he'll have a better gypsy prediction streak for '09.
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Posted: Nov 11th 2008 7:20AM AwesomeTown said
I'm sure it is safe to say the readers of Joystiq are helping out the economy this holiday season by purchasing many, many games.
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Posted: Nov 11th 2008 12:19PM (Unverified) said
In case any one else was as curious as I was...
trog⋅lo⋅dyte
/ˈtrɒgləˌdaɪt/ [trog-luh-dahyt] –noun
1. a prehistoric cave dweller.
2. a person of degraded, primitive, or brutal character.
3. a person living in seclusion.
4. a person unacquainted with affairs of the world.
5. an animal living underground.
Reply
trog⋅lo⋅dyte
/ˈtrɒgləˌdaɪt/ [trog-luh-dahyt] –noun
1. a prehistoric cave dweller.
2. a person of degraded, primitive, or brutal character.
3. a person living in seclusion.
4. a person unacquainted with affairs of the world.
5. an animal living underground.
Posted: Nov 11th 2008 2:16PM (Unverified) said
Think about sales of illegal (and legal!) drugs - they're not going to be very hard-hit by the world's financial troubles.
Video games are addictive, like drugs. People will still want to shell out for their vices.
Reply
Video games are addictive, like drugs. People will still want to shell out for their vices.
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