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Holidays aren’t looking happy for entertainment at retail

Given the economy, it’s no secret that this holiday season is likely going to be a cautious one – but a new survey by the NPD Group shows that entertainment companies might have a rough go of things at retail stores. Cashier

NPD has released its annual holiday retail outlook – and while most shoppers say they plan to spend about the same as last year, the general lack of “must-have” products has people less enthusiastic about movies, video games and electronics than they were last year.

Only 24 percent of the people surveyed said they planned to buy a movie or DVD this year, down from 29 percent last year. Electronics took a big dive, falling 8 points to 16 percent and just 15 percent of shoppers plan to buy a video game or gaming system – a 5 percent drop from 2009.

So what’s going to boost sales? Price. As people keep a close eye on their budget, over 60 percent say the thing that will influence them the most as they decide what to buy this year will be driven by cost.

That’s the ray of hope for entertainment companies. Last year, Amazon and Wal-Mart launched an aggressive price war in movies and games – which helped increase sales in both categories. 

 

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