With a console in 61% of households, Canada’s gaming industry is the third largest in the world – and with $1.7 billion spent annually, consumers are shelling out to get in on the action, according to Secor Consulting Group’s Canada’s Entertainment Software Industry In 2011 report. A RateSupermarket.ca poll finds 37.6% of respondents allocate a portion of their budget to video games – with 16.4% admitting to buying an average of 15 new games each year. The study illustrates the affordability of upcoming Generation 8 consoles such as the Sony PlayStation 4 and Microsoft Xbox One, along with their Generation 7 counterparts. Titled The Cost of Video Gaming In Canada, the infographic shown below depicts an average depreciation of console cost of $311.95 from launch date to present day, and indicates which new console offers the best bang for gaming bucks.
“While you can’t put a price on fun, consumers may not realize just how much they’re spending on their gaming activities,” said Penelope Graham, editor at RateSupermarket.ca. “We wanted to provide a budget-friendly cheat sheet for savvy customers looking to purchase their next console, and some easy ways to save even more on their gaming costs.”
Save The Princess… And Some Cash
- Try Before You Buy: The average gamer buys 15.4 new games a year, at around $60 a pop – that’s $900 spent annually! Gamers can cut these costs by renting the latest releases before committing to buying.
- Go Pre-Loved: Game prices can be cut dramatically on the second sale circuit. Try a used retailer like EB Games for the latest used selection.
- Patience Is A Virtue: It’s tempting to get the latest system now – but if you can stand waiting past the launch buzz, you’ll often score your system for a fraction of the cost.
- There’s Power In Points: If you’re frequently shopping for new games, a credit card with specialty rewards may save you a bundle, such as one that has Sony rewards.
- Hit The Clouds For Classics: Systems with cloud based streaming often have access to older favourites for free. Rather than rush out for the latest titles, why not log an hour or two for less?