The US gaming industry recorded its weakest November performance in three decades, with new data showing a sharp decline in video game hardware and physical software sales despite the holiday shopping period.
According to Circana, only 1.6 million units of video game hardware were sold in the US during November 2025, marking the lowest November unit total since 1995.
The figures were shared by Mat Piscatella, executive director at Circana, who said the month represented the weakest November for gaming hardware and physical software sales in the US in 30 years.
Total spending on video game hardware in November reached $695 million, representing a 27% year-on-year decline compared to November 2024.
Piscatella noted this was also the lowest hardware spending for a November since 2005, when tracked spending totalled $455 million.
Physical software sales also continued to slide, with spending down 14% year on year, making it the lowest November total for physical game sales since records began in 1995.
Circana’s data shows the downturn extended beyond hardware, with declines reported across consoles, accessories, and physical content during the month.
The average price paid for a new piece of gaming hardware in November was $439, up 11% compared to last year and significantly higher than the $235 average price in 2019.
Unit sales remain far below pre-pandemic levels
The 1.6 million hardware units sold in November 2025 stand in stark contrast to November 2019, when US consumers purchased 3.9 million units.
Piscatella said the only comparable November performance occurred in 1995, when 1.4 million hardware units were sold in the US.
Despite the overall decline, the PlayStation 5 emerged as the best-selling console for the month in both unit sales and dollar revenue.
This marked the first time the PS5 has led both categories since the launch of the Nintendo Switch 2, which has dominated recent hardware rankings.
Overall gaming spend also declined year on year
Total projected spending across video game hardware, content, and accessories reached $5.9 billion in November, down 4% compared to 2024.
Piscatella said the November figures highlight ongoing pressure on the physical gaming market, even during periods that traditionally see strong seasonal demand.
Circana has not yet released full-year projections, but the November figures point to continued challenges for physical gaming hardware and software in the US market heading into 2026.
