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One argument I hear a lot is that Holiday sales don't matter because the quantity of consoles available in a console launch means near parity in consoles sold through.

Recently though I've been thinking about it and I've come to a somewhat different conclusion. What if holiday launches are still important to distinguish, because of the holiday buying process and how it trickles down into further months. For instance if the PS5 launches and sells 2 million units in 2 months during a holiday launch, and 600k of those people are buyers specifically because of the holidays, then that means 600k potential gamers are going to buy it after the holiday launch. It's essentially consuming some of the potential buyers. Whereas with the Switch launch, there wasn't any of the holiday buyers(people who only buy consoles during holidays) consuming the potential sales of the system, so a lot of the hardcore userbase that were planning to buy the console don't have to go out and get those 600k after launch into the later 2 months or so.

That could be wrong, but it is something to think about.