U.S. gaming hardware sales slump to a 35-year low as prices surge

U.S. gaming hardware sales have fallen to their lowest level in 35 years as prices climb sharply. Circana’s Retail Tracking Service data, shared by analyst Matt Piscatella, show that this November only about 1.6 million units were sold — the lowest reading since November 1995.

For comparison, November 2019 saw 3.39 million devices sold. The average price per unit has climbed to a record $439, up from roughly $235 five years ago. In other words, customers are paying much more while taking home far fewer devices — a telling snapshot of a market where higher price tags are overpowering holiday enthusiasm.

On a year-over-year basis, November spending on gaming hardware declined 27%. Game content sales inched up 1%, while accessories fell 13%. Looking at the broader full-year picture, hardware sales are still up around 10%, pointing to uneven momentum across the calendar.

Analysts note the numbers reflect only the U.S. market and do not capture global trends. At the same time, interest in subscription services is rising: spending on subscriptions increased 16% from a year earlier. Overall, players appear to be spending similar amounts on games but are directing more of that money to digital content and services, delaying expensive hardware purchases — a shift that suggests households are favoring flexibility over ownership for now.