I always find myself in the same situations every time I want to play a board games: Having no one else to play with, getting bored after playing for too long or consider playing a mobile. With these problems in the mind of consumers, it’s become a reason to question buying new board games are worth it. Clearly board games companies have caught on to these problems through an analysis of consumer behavior, but how have they changed their products to deal with these issues?
The board game industry is a highly competitive market where new entrants find it hard to break into it as brand recognition has proven to be a barrier to entry. With technology rapidly growing every year, electronic games are becoming more available at an arms length, leaving companies with a new threat of competing for the attention of consumers. Rather than compete against the technology market by continuing to produce physical copies of their games, companies innovated their table top games to be able to played across multiple device platforms, creating a new marketing segmentation
The new market segmentation focuses on people who like to use mobile technology for entertainment purposes. Hasbro’s Monopoly and Milton Brandy’s Games’ Game of Life are examples of well known board games that have been transferred onto digital gaming platforms and are relatively cheaper to purchase compared to their physical counterpart. A reduction in the price of the digital game doesn’t reflect a negative affect on sales, rather digital versions of board games are able to bring in new customers to purchase the physical copies, as a result the industry is expected to grow by 34.3% globally by 2026. More opportunities created is monetization through in app offers and offering different versions of the game that users can purchase. The table top games are known to partner with other companies and create themed boards that appeal to this generation pop culture. This is no exception to the digital version as they are offered to opportunity to customize their board to their will.
Overall, by offering a new way to experience the way board games are played companies have found a way to deal with the issues previously listed. They are able to provide tutorials for new players, and allow users to play with other users online, and having the option to save games and come back to finish them later. The ability to monetize the games through in app purchases where the user is able to customize their game has opened opportunities for further revenue. Companies have adapted to the technological advancement and have innovated their products in order to adapt and compete to the new market and most of all enjoyable for old and new broad game players.
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