The German gaming market has shown consistent growth in the first half of 2023, as revealed by a collaborative analysis conducted by GfK and GfK Entertainment. The assessment, presented in conjunction with the Gamescom event, focuses on the developments in the gaming hardware and accessories segments.
Surge in Console Sales
During this period, sales of game consoles witnessed a notable increase of 90% when compared to the same duration last year. The surge in sales can be attributed to the renewed popularity of the PlayStation 5, which has now become widely accessible following supply challenges over the past two years. According to the stats, the PlayStation 5’s sales have tripled in the first six months of 2023 compared to the same period in 2022.
Pandemic Impact and Product Replacement
According to Gfk, the growth in gaming hardware sales is partly due to the ongoing influence of the pandemic, during which many individuals upgraded their hardware or entered the gaming scene for the first time. This upswing has contributed to overall market growth.
However, current interest in new products seems relatively subdued. Sales of gaming laptops (-13 percent) and PCs (-20 percent) have declined between January and June 2023, potentially signaling the beginning of a new replacement cycle for products purchased during the pandemic.
Shift Towards Premium Products
Buyer surveys conducted as part of the gfknewron consumer platform indicate a gradual increase in the number of individuals opting to replace their functional gaming notebooks with newer models.
There’s a growing demand for premium gaming laptops, with the segment experiencing a one percent growth in the 1,600 euros price range and a substantial 25% growth in the 3,000 euros range.
Premium Trend in Accessories
The inclination towards premium products can also be observed across various gaming accessories. While the overall business with gaming accessories experienced a minor dip of 1%, specific items such as tenkeyless keyboards (+13 percent) and Bluetooth mice (+36 percent) have gained popularity.
Despite an 8% decline in overall monitor sales during the first half of the year, the ultra-premium segment with refresh rates of 360 Hertz and higher demonstrated a commendable 64% growth.
Physical Video Game Market
Shifting the focus to physical video games, the market has managed to stay afloat, reporting a modest 2% increase in sales despite competition from digital alternatives. Leading titles include The Legend of Zelda: Tears of the Kingdom (no surprise here), Hogwarts Legacy, and FIFA 23.
Rising Demand for Gaming Merchandise
Likewise, the demand for gaming merchandise has been notable, as indicated by data from the GfK Entertainment merchandise panel. Top titles of the year have experienced increased sales of licensed products, with a 27% rise in FIFA items, a 33% increase in Harry Potter merchandise, and an impressive 81% surge in sales of The Legend of Zelda products.
The analysis above was drawn from representative point-of-sale data provided by GfK and GfK Entertainment for Germany, spanning the period from January to June 2023.
What are your thoughts about the growth of the German gaming market recorded in the first half of 2023? Let’s discuss this in the comments section below.