Video games offer more bang for your buck

Everyone knows that some categories get creamed in a recession while others soar.

Take video games, for instance. Back in January, we observed that online gaming was recession-proof. It seems like this applies for console games as well.

Research firm NPD Group recently reported that U.S. video game industry revenues grew 13 percent in January, to $1.33 billion. While total software sales were up 10 percent, to $676.6 million, total hardware sales were up 17 percent, to $445.4 million, so we’re not just talking about people being frivolous with 30 or 40 bucks; an Xbox will set you back $200 to $500.

“Video games have great value as entertainment,” said Ron Meiners, director of community for the Hollywood Interactive Group. “The number of hours of solid entertainment that come from a video game purchase is much greater than a movie, for example, for very comparable cost. Moreover, it’s a much more interactive, involving activity, which helps make them more valuable.”

Brand managers might want to heed Meiners’ advice and find a way to make their marketing communications more like a video game—more involving, more interactive, more entertaining and ultimately more “gotta have it.”