U.S. retail sales of video game hardware, software and accessories took a 20 percent nosedive in July to $707.7 million, hurt by a combination of less demand for video game consoles and no major game title released during the month, according to market research firm NPD Group.
Is anyone actually surprised? Consumer confidence is in the toilet. People can’t find jobs, people who have jobs are terrified they’ll lose them, the dollar is taking a beating, and Congress and the President are faring incredibly poorly in polls. No one has an incentive to spend money, especially on discretionary items like games.