Study: Consumers Don't Dig 'Next-Gen' Pricing

Consumers are not quite comfortable with the higher prices attached to games in the current console generation, according to research released by Frank N. Magid Associates on GameDaily.

43 percent of surveyed "next-gen" console owners said they would wait for game prices to fall before buying, while 30 percent said they resorted to buying more used games instead. Only 17 percent said that "for the right game, the price would not matter."

Respondents to the Magid survey were allowed to choose multiple answers. 23 percent of those questioned said they would buy fewer games that retailed for $59.99. 17 percent also answered that they would turn to game rental instead of buying some games.

Console makers and publishers drew some ire from gamers at the start of the current generation of gaming consoles--Microsoft's Xbox 360, Sony's PlayStation 3 and Nintendo's Wii--as they announced that games in this generation would generally retail for $59.99, a $10 premium over the previous generation. Gaming companies claimed a number of justifications for the price hike such as increased production costs.