Friday, February 20, 2009
Recession, What recession?
Judging from the sales figures despite the slow economy, video games are now considered the best bang for your entertainment buck. Just ask Dan DeMatteo, CEO of Gamestop (NYSE:GME), who's overseen the store's recent surge in sales. DeMatteo was quoted in in today's Wall Street Journal , in an article titled: Gamestop Boasts Momentum.
We think '09 should be a very good year in spite of the recession. Given what we've seen so far, videogames are considered a form of value entertainment.
I just have one question: Why wasn't he talking like this 15 years ago, when I was begging my parents to buy me NBA Jam?
There's a simple answer: Times have changed, along with our routines and habits.
Cultures are defined by their customs and what they value. Our culture has grown accustomed to being constantly amused and entertained, similar to the Romans. We still seek entertainment, but in cheaper forms. For the price of five tickets at your local movie theater , you can buy a PS3 or XBox 360 or Nintendo Wii game that will entertain family and friends on multiple occasions. Innovations such as Netflix on Xbox Live provide even more incentive to spend the night at home with friends and family.
Gamestop Thrives from Culture Shift to Home Entertainment By Matt O'Hern at 03:28 PM