The Nintendo Switch Was the Top Selling Console of November
It goes without saying that 2020 has been a wild year for all, and video games have certainly been no exception to the rule. As the video game industry produced a $90 billion economic output for the United States in 2019 and continues to set even more records in 2020, it's clear that the industry is well along a path of recent growth.
Although the Nintendo Switch was experiencing mass shortages at the initial height of the worldwide COVID-19 pandemic back in March, production of the console has ramped back up, allowing for eager consumers to get their hands on the hybrid handheld-home gaming console once again. Unfortunately, this is not something that can be said for the recently released PlayStation 5 and Xbox Series X|S this past November.
American market research company NPD Group has revealed its market analytics of video game spending trends last month, revealing a 35% increase in consumer spending when compared to November 2019. However, most notably, the Nintendo Switch led the market in hardware units sold this November, despite the release of the new next-gen consoles taking place the same month.
NPD's analytics reveal a record spending of $1.4 billion on new video game hardware, with much of the credit attributed to the newly released next-gen consoles. In addition to the Nintendo Switch being the best selling video game console in November, NPD also noted that the PS5 had the biggest console launch in US history. This is due in part to Sony's new system setting the record for the highest dollar sales of any video game platform in the US, only beating out the launch of the PS4 7 years ago. So, it is important to note that while the Nintendo Switch sold more units than the PS5, the PS5 brought in more consumer spending this November. The two largest contributing factors of this seem to be the supply of the consoles and the price differences between the consoles.
The Nintendo Switch was able to meet demand last month with a massive increase in supply, while the PS5 has been nearly impossible to find for many all around the world. Comparing hardware prices, the PS5 costs $500 and the PS5 Digital Edition costs $400, while the Nintendo Switch costs $300 and the Nintendo Switch Lite costs $200. Despite the Nintendo Switch being much more readily available, consumers have shown that they are willing to pay a hefty premium for Sony's ever-elusive next-gen console.
NPD's figures show promising growth of the video game industry. And while the Nintendo Switch continues to break sales records, the recent releases of the PS5 and Xbox Series X|S have left many wondering whether the console is due for a refresh. For now, it seems that only time will tell.
The Nintendo Switch is available now.
Source: Twitter
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