What’s Your Console Really Costing You?
Ratesupermarket.ca Study Finds Video Game Systems Depreciate an Average of $311.95 CAD
TORONTO--(BUSINESS WIRE)--With a console in 61 per cent 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*. A RateSupermarket.ca poll finds 37.6 per cent of respondents allocate a portion of their budget to video games - with 16.4 per cent admitting to buying an average of 15 new games each year.
“While you can’t put a price on fun, consumers may not realize just how much they’re spending on their gaming activities”
The ROI Replay
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 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. A great example is the Sony Card MasterCard® credit card, which earns 2 points on every purchase to be put toward any item at the Sony Store.
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?
*Secor Consulting Group's Canada's Entertainment Software Industry In 2011
About RateSupermarket.ca (www.ratesupermarket.ca)
Over 3 million Canadians have found their best rate for personal finance products on RateSupermarket.ca. Launched in 2008, RateSupermarket.ca is Canada’s most comprehensive rate comparison site, offering visitors transparent access to the best mortgage rates as well as credit cards, bank accounts, insurance quotes and GIC rates.