As the holiday season approaches, a new survey indicates that consumers will spend less on video games as gifts this year.
Market research firm the NPD Group found the results as part of their a broader forecast of consumers’ buying intentions for the upcoming holiday season.
Based on 1,995 responses, 20% say they will buy video games as gift, down from 22% in 2008.
Overall, video games ranked eighth in the top 10 list of items consumers plan to purchase. No. 1 on the list: Apparel at 49%. Video games was one of two categories – the other being toys – to experience a slight dip compared to last year.
According to the survey, consumers’ purchases will be motivated most by value, followed by special sales and convenient location.
Ten percent unemployment and they needed a survey to figure that out? Fewer people with jobs equals lower lower consumer spending.