Cost of living crisis hits gamers in their wallets as spending drops

The higher cost of living has caused gamers to spend less on video games as monthly spendings continue to drop when compared to last year’s overall consumer spending.

Inflation began to surge last year following the U.S’s economic recovery from the COVID pandemic spike. As a result, prices started to rise from a combination of strong consumer demand through lower interest rates and industrial disruptions. Those inflation spikes have trickled into the gaming industry, where the overall consumer spending for video games has decreased in 2022 compared to 2021.

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