Video Games Offset Falling Movie And Software Sales For JB Hi-Fi

Credits : Kotaku

 

It’s been a good year for games sales. Aussie retailer JB Hi-Fi has just announced that while software sales at the electronics retailer are down for the first half of 2018-19, particularly sales of movies, it’s being “partially offset” by growing sales of video games.

The company’s half year results were published earlier this morning, and the overall news is pretty good: overall sales rose 10.8% to $2.48 billion, while the company’s gross profit rose by 9.8% to $545.3 million.

The main drivers for the half-year performance was a 13.5% bump in hardware and services, which JB defines as “all sales excluding” music, movies and game software sales. Software sales continued their slow decline, as has been the case for a number of years, falling 6.5% compared to the first half of FY2017.

The decline, however, could have been worse. JB’s report to the ASX notes that the fall was “partially offset by growth in the Games Software” category, and the company’s online sales rose by 40.6% as well.

It’s a positive result for gamers, given that just a few years ago local retailers were considering the prospect of reducing their stock of games in-store. But the continued excessive pricing of games through digital storefronts – console games, particularly AAA titles – has meant stores like JB, Target, Big W and EB Games have remained competitive. It also means we should expect JB to continue offering lots of solid bundles and sales for games throughout the rest of the calendar year.

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