Hardware spending in the US was so low in July that it nearly matched the 2020 pandemic days when everything was out of stock

New data from the industry analysts at Circana has revealed that consumers are spending a lot less than usual on gaming hardware or the games themselves.

The short version

• Circana's latest report covers the US market in July, and it includes a lot of concerning data.
• Over the course of the month, all console platforms sold fewer units than they did in July last year.
• Hardware spending dropped by 29 percent as a result.

What happened

That decline is even more shocking than it appears. According to the report, overall spending on hardware in July dropped to a low that's close to July 2020, back when pandemic-fuelled component shortages made consoles hard to find.

Why it matters

Despite ample hardware availability today, it seems high prices have achieved the same effect as not having any hardware in stock.

Summary by Nerd News Network. Read the full article at Eurogamer via the links above and below.