It is no secret that the Covid-19 pandemic has pushed a lot of people to find different means of entertainment. Video games are one such avenue. It has provided a mental break for many and allowed others to break the monotony of being stuck indoors during lockdown periods. Many brands in the industry saw a significant increase in sales and community engagement. The question now is whether these positive results will continue after the measures taken to prevent the spread of the pandemic have lifted? Vaccine rollouts means the possibility of people returning to their more active lifestyles, taking them out of the house and away from their gaming consoles.
Factors To Consider About The Gaming Industry
Some determining factors that can give insight into how the video game industry is holding up and what the future may hold. Prior to the pandemic, the industry was already seeing generous profits and an ever-growing community. This engagement and community growth has pushed brands to create ever-impressive games and gaming experiences. However, it hasn’t been all sunshine and roses for all brands, and some have seen some decline in their profits and customers.
1. Brand Loyalty
One thing that has stood out during the pandemic is the awareness and increase in brand loyalty. However, this is not solely based on the pandemic. Brands have worked for years to gain customer loyalty, and this has resulted in positive returns and feedback. For example, Nintendo released fewer games during the year 2020, but their brand loyalty meant that they were able to outsell the PS5 during November and December during the holiday rush. One thing that did increase their brand awareness was Animal Crossing which helped to carry them through the rough period.
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2. New Community Members
Over the last few years, there has been an increase in the gaming community. As a result, brands have been able to remain stable during the crisis and, for some, have increased in value. It does suggest that there is a possibility to continue growing in this direction. This is also contributed to by the tech-savvy adult generations who are the original pioneers of game heads. The sense of belonging and overwhelming engagement that the tight-knit gaming community provides is one of the reasons why games publishers have had success during the pandemic.
3. Return To Life As Normal
There is a big question mark about how the gaming industry will perform when normal life returns, however, current projections suggest that there won’t be a negative impact. This is mainly due to the increase in consumers and the ease of use once you have the console. The market has increased, and with it, the potential for the industry to remain lucrative.
4. Company Reputation
There have been some controversies that have come into the light during the pandemic. These have harmed some brands and, for others, increased their value. The highlighting of misconduct within certain companies meant a stain on their reputation, giving room for others to maintain the quality and reputation of their company, working standards, and product quality.
It is hard to determine the future of the gaming industry considering the murky factors. What can be noted is that the industry has managed, along with online retail, to remain on the favorable end of the pandemic. This can change in the future, but as it stands now, the industry is holding up well and thriving.
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