The games consoles market is in decline, with only 10.8% of households purchasing a new games console in the past 12 months. The saving grace for this market is technology, which is the primary driver for consumers buying a new games console – true for 38.9% of consumers.
Previous high-tech consoles and accessories, the Nintendo Wii and Xbox Kinect– which launched in in 2006 and 2010 respectively – were highly successful in terms of units sold. And the Nintendo Switch, the most recent high-tech console to hit the market, which can be played on-the-go (as well as connecting to a TV), continues to outperform expectations.
Consumers are drawn to new technology, for example consoles with complementary accessories or virtual reality compatibility, and any console which does not deliver this is unlikely to be a success with punters. With Xbox set to release its newest iteration in November, retailers must focus on highlighting its latest technology: the ability to provide a gaming PC experience in a console. Without this, the new Xbox may fall flat, signalling the beginning of the end for the games console market.