It looks like the rumors about the Nintendo Wii price drop were true, as Engadget have managed to get hold of an internal Best Buy email, which confirms the Wii will be reduced from $249.99 to $199.99 from Sunday 27th September 2009.
The email also suggests that Nintendo will officially announce the price drop on Friday, but that the price drop won’t actually come into effect until Sunday the 27th. I guess there won’t be too many Wii consoles sold on Friday and Saturday.
Strategic Timing for the Holiday Season
Nintendo is obviously dropping the price to increase sales in the run-up to Christmas. This strategic move is likely aimed at capturing the attention of holiday shoppers early, ensuring that the Wii remains a popular choice for gifts. The holiday season is a critical period for gaming console sales, and a price reduction can significantly boost a product’s attractiveness to consumers.
We have already seen price drops for Microsoft on the Xbox 360 and Sony on the PS3 this year. Both companies have been aggressively competing in the market, and Nintendo’s price drop is a clear indication that they are not willing to be left behind. By reducing the price of the Wii, Nintendo is making a strong statement that they are committed to maintaining their market share.
Impact on the Gaming Market
The price drop is expected to have a significant impact on the gaming market. Lowering the price of the Wii to $199.99 makes it more accessible to a broader audience, including families and casual gamers who may have been hesitant to invest in a gaming console at a higher price point. This move could potentially lead to an increase in the Wii’s user base, which in turn could drive more game sales and accessories.
Moreover, the price reduction could also influence the pricing strategies of other gaming companies. If the Wii’s price drop proves to be successful in boosting sales, we might see further price adjustments from competitors in an effort to remain competitive. This could lead to a more dynamic and competitive market, benefiting consumers with more choices and better prices.
Additionally, the timing of the price drop is noteworthy. By announcing the price reduction just before the weekend, Nintendo is likely aiming to create a buzz and build anticipation among consumers. This could result in a surge of sales as soon as the price drop takes effect on Sunday, giving Nintendo a strong start to the holiday shopping season.
In conclusion, Nintendo’s decision to lower the price of the Wii to $199.99 is a strategic move aimed at boosting sales and maintaining competitiveness in the gaming market. With the holiday season approaching, this price drop is likely to attract a wide range of consumers, potentially leading to increased sales and a stronger market presence for Nintendo. It will be interesting to see how this move influences the gaming market and whether other companies will follow suit with their own price adjustments.
via Engadget
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