Ready, player none… The pandemic gaming boom is over. Global video-game sales are expected to fall this year for the first time in seven years. Last week, gaming titan Activision Blizzard (“Call of Duty,” “Overwatch”) said its quarterly revenue was $600M lower than a year ago. Nintendo’s Switch sales plunged 60%, Microsoft reported lower gaming revenue as Xbox sales slipped, and FIFA legend EA lowered its sales forecast. Up next to report: Roblox. Supply woes, recession jitters, and IRL fun are expected to shrink gaming sales by 9% this year.
BTS is back... we're not talking K-pop. This year’s back-to-school season will be pricey: families with kids in elementary through high school plan to spend, on average, $864 on supplies, up $168 from 2019. Retailers including Walmart and Target have cut their sales outlooks as households prioritize essentials like groceries and Ticonderoga pencils over new laptops. Still, overall BTS spend is on pace to match last year's $37B record. Some parents are dipping into savings to afford supplies. Now, some states are offering sales-tax holidays for BTS shopping.