So much for slowing video game sales.
While we haven’t seen third quarter sales figures just yet, they’re expected to be great. Especially with August 2021 gaming sales up to $4.4 billion.
Even more impressive, hardware sales are up 45% to $329 million in August — the third highest month of sales ever.
Some of the top stocks to still consider, as we near the holidays are Take Two Interactive (TTWO), Activision Blizzard (ATVI), Electronic Arts (EA), and Nintendo (NTDOY).
For an idea of how unstoppable the trend has been, consider this.
In the first half of the year, video game sales were up to $28.9 billion – up 15% year over year, according to the NPD Group.
In the first quarter, video game sales were 30% higher in the first quarter of the year rising to $14.92 billion. “Video game content (which includes new games, expansions, and DLC) went up by 25% to a total of 12.8 billion, while video game accessories (including microtransactions) went up 42%,” reports The Gamer.
For the second quarter, gaming sales totaled $14 billion — a 2% increase year over year.
“Despite changing pandemic conditions across the country, video games spending remained strong in the second quarter of 2021,” said Mat Piscatella, games industry analyst at The NPD Group. “A year ago, in the second quarter of 2020, consumer spending on video games increased a remarkable 47% compared to the same period in 2019. Consumer spending has not only maintained the elevated levels reached a year ago, but exceeded them in key areas such as hardware, mobile and subscription spending. Video games have become a bigger part of consumers’ entertainment and social lives, factors that lend confidence to continued growth for the industry.”
In short, nothing may slow the boom. Use any weakness in gaming stocks as opportunity.