Boost in second-hand games sales upside of global financial crisis

Gaming industry weathers global financial storm

The games software industry has found an unexpected silver lining, with sales in the second-hand games sharply increasing amid the economic turmoil of the global financial crisis.

Mark Langford, managing director of gaming retailer Gametraders, believes that the shrinking budget of gamers is making the trading of old games and the purchase of used titles more attractive.

"Second-hand titles are simply a good economic choice in the current climate," said Langford. "We're also seeing second-hand games traded to offset the cost of another second-hand game."

Rival retailer EB Games has experienced a similar rise in second-hand game sales and believes that many people see gaming as a cheaper alternative to going out.

"Both trade and pre-owned sales (of game titles)are well up on the same time last year," said Debra McGrath, EB Games Australia's spokesperson.

"In these times of economic uncertainty, people still want to have fun and video games are a great way to forget all the worries of the world," She said. "So rather then going without, people are making wiser choices when it comes to their shopping patterns."

According to 2008 gaming-related sales figures from GfK, the gaming industry has shrugged off the global financial crisis and hit sales results of $1.96 billion with a growth rate of 47 per cent. GfK said that the level of growth remained steady throughout the year.

But Langford attributes much of this to an increase in the number of game retailers and said that the global financial crisis has hit sales growth.

"We were running at over 20 per cent growth (for new games) and the highest growth we had was 43 per cent — that slowed quite dramatically starting in September 2008," said Langford.

EB Games Australia said that 2008 fourth quarter sales for new games had grown compared to the same period in 2007, but refused to comment on how much.

The global meltdown has claimed at least one Australian gaming software distributor with Capcom drops software distributor Red Ant for THQ.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags game softwarefinancial crisis

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

David Ramli

PC World
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?