Over the past six months, the PlayStation 5 (PS5) has asserted its dominance in the UK console market, claiming a 51 percent share of all console sales. According to data from UK chart firm GfK, the PS5 held a 43 percent share in console sales from November 2022 to October 2023, but this figure rose to just over 50 percent when examining the last six months.
GfK games boss Dorian Bloch attributed this surge in PS5 sales to several factors, including summer price promotions, the introduction of the EA Sports FC bundle, and the availability of the standard PS5 model without supply and stock shortages, a departure from previous years.
Contrastingly, Xbox Series consoles slightly declined, dropping from a 26 percent market share over the last 12 months to 23 percent in the previous six months. The Nintendo Switch experienced a more substantial decrease, falling from a 34 percent market share to 25 percent during the same period.
While the Nintendo Switch faced a decline in the UK and the United States, with a 21 percent drop in sales in 2023, the hybrid console continues to perform well globally, particularly in Japanese sales and other export territories. Dorian Bloch highlighted that Q4 traditionally accounts for approximately 50 to 55 percent of hardware units, emphasizing that there is still significant potential for changes in market dynamics.
However, concerns about the cost-of-living crisis and economic uncertainties loom, potentially impacting consumer spending in the weeks ahead. Bloch referenced GfK’s recent findings, indicating a nine-point drop in the consumer confidence index in October 2023 and a 14-point decrease in the major purchase index. These declines, Bloch noted, underscore the pressure on consumers due to rising costs in various aspects of daily life, potentially influencing major purchases, including gaming consoles.
