I work in the tooling industry.
We are currently down 33% Year over Year.
Our competitors aren't faring any better.
With that I've noticed several recessions within the electronics industry as well as several other fields and it is downright terrifying what is going on. Foreclosures, layoffs etc.
I would guess that most posters here are in their late teens and early twenties which put you at the point of college, and you are most likely feeling the sting of the student loans as well.
With all of that, it is apparent that one industry seems to have not been hit yet, and that is videogames. The reason most commonly associated with the current trend is that people are spending more times at home rather then going out... so $50 on a game rather then $50 out onthe town will at least give you something that will last a few days, or give you something you can entertain yourself with friends.
With all that being said, from what I've been noticing I think the bottom may very well fall from under our fun hobby. Japanese sales alone are reason enough to worry and almost a dire premonition of things to come for the rest of the world.
It IS as bad as it looks.
So in this all out struggle to stay afloat... what are your thoughts regarding videogames and the recession?
Recession proof? Or are we going into a tailspin?
Wow! What a depressing topic.
Predictions For Last Full Week of Sales in 2010)
WII - 80.35 Million
360 - 43.88 Million
PS3 - 41.40 Million
More terrible predictions coming Jan. 2011!!!