Many things set the video game industry apart from other markets. One of the biggest things is that acts like inflation don’t typically affect the market like it does others. Regarding items like food, household items, and such, their place can fluctuate wildly depending on the week and the country’s economic situation. For video games and their consoles, that tends not to happen. There are sales and discounts, that’s true, but you don’t see “price jumps” on games and systems once they release. However, that’s not the case in India, as that region has hiked its prices regarding the Xbox Series S.
What’s more, it’s not just that the Xbox Series S had a price jump. It’s the second one in India in the last six months. That’s practically unheard of and is a worrying trend. The reasoning behind the jump is unknown. However, many speculate that the reason could be economic uncertainty within the region. However, that would be odd because increasing the price would make it harder for someone to buy a console, not easier. There are over a billion people in India. While that does make them the “perfect place” to try and sell consoles, that’s hard to do if no one can afford your system!
It should be noted that this is the only region that currently has such a price hike. But you have to feel for India because the newest price hike comes six months after the last one! So by that logic, it’s not hard to guess that things could get even worse with the system going forward in India.
As for the news that might affect the whole world of gaming, it’s being said by multiple sources in the know that software prices will increase soon.
That comes from not just sources but from Xbox itself. They said that 1st-party Xbox titles would soon be $70 at launch. That’s a $10 increase from what it was previously. It’s unknown whether Sony or Nintendo will join this trend, but it’s possible.
The reason behind that price hike is that there are “increased costs” for games due to updates and DLC. So they need that extra $10 to offset it and gain profits.
So it’s not the best time to be a gamer in some ways. Because unfortunately, increased costs will affect many people, and more price hikes might come in the future.
Source: Twitter