Retailers like JB Hi Fi Big W and EB Games are set to have a bumper Xmas selling Video games with discounting of Xbox 360 set to pull through sales of consoles say analysts.
A senior Citigroup analyst said that both video games and consoles will be one of the only “really bright” spots this Xmas with many families choosing a new game over other purchases.
BMO Capital Markets said yesterday at the Interactive entertainment conference in New York that they were optimistic of solid sales of advanced gaming consoles made by Nintendo, Sony, and Microsoft
Talking to Reuters Mindy Mount, chief financial officer of Microsoft’s entertainment and devices division said. “I think it’s going to hold up a lot better than other industries,” said “We remain cautiously optimistic. The outlook for video games is rosy in contrast to many other industries”.
Yves Guillemot, chief executive of France’s Ubisoft the maker of the hit “Splinter Cell” franchise — expects video game industry software sales to grow by more than the 20 percent.
Guillemot claimed that 2009 “will also be a great year,” saying business may fare better in stores with a different demographic than the traditional games store.
Strauss Zelnick, executive chairman of Take-Two Interactive Software Inc, maker of the blockbuster “Grand Theft Auto” series, said overall holiday shopping “doesn’t look very promising” for those who do not have huge hits on the shelves. “I’m concerned that it’s going to be a pretty rough holiday season,” he said. “Everyone’s going to be shopping less. First you are going to see less foot traffic and then less inventory on the shelves.”
Peter Moore, president of Electronic Arts Inc’s EA Sports unit, which makes the popular title “Madden NFL,” also voiced “cautious optimism.”
