Video game console sales in the U.S. have seen a substantial downturn through August of this year. Data from research firm Circana indicates that Xbox hardware unit sales have decreased by 33% year-to-date compared to last year. PlayStation 5 sales have also fallen by 25% over the same period.
The 33% drop places Xbox's year-to-date U.S. hardware unit sales at an all-time low since its initial launch nearly 25 years ago. For PlayStation, the 25% decline brings its sales to the lowest point since 2013, a period when consumers delayed purchases in anticipation of the PS4's release.
Industry advisor Mat Piscatella attributes the sales slump to increasing price sensitivity among gamers, exacerbated by recent price hikes from console manufacturers. Microsoft has raised Xbox prices three times in the past two years, with the Xbox Series S now costing up to $599.99 and the Xbox Series X up to $799.99. Sony also increased PlayStation console prices by $100 to $150, with the base PS5 Digital Edition now at $599.99 and the disc version at $649.99. The PS5 Pro is priced at $899.99, and the PlayStation Portal at $249.99.
Despite the higher price, the PS5 Pro remains in short supply, leading to inflated prices in the secondary market. Refurbished PS5 Pros are reportedly selling for $1,399 at GameStop, significantly above the MSRP for new units.
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US video game console sales have significantly declined year-to-date through August, with Xbox hardware unit sales down 33% and PlayStation 5 sales down 25%. This marks an all-time low for Xbox sales and the lowest point for PlayStation since 2013, attributed to recent price increases by both Microsoft and Sony.