United Kingdom - Market research firm Verdict Research Limited has released their latest UK Video Games and Consoles Retailing 2008 forecast.From the press release:
In 2008 we believe video games sales will overtake music & video sales for the first time. Video games are proving themselves the stand-out performer in a sluggish retail environment, enjoying explosive growth at odds with other sectors. When this upsurge is over, video games will find itself a more significant contributor to the retail market.
The reason for this is growth in the demographic, driven by technological innovation. Although leading specialist Game and a number of well-run independents are well-placed to profit on the buoyant market, other retailers are also keen to benefit with grocers, online retailers and non-specialists all ramping up their participation in the sector.
The medium term prospects of the market are strong with the current generation of consoles set to see a peak in hardware sales in early 2009 and then enjoying strong software sales - driven by a widely installed console base, into the next decade. The accessories market will also continue growing rapidly, driven by innovation and new technology.
What do you guys think? Will the strength of the gaming market while everything else crashes vault it to an even more prominent location in the marketplace even after the market recovers? Can games really pass movies and music?
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