US Game Console Sales Crater in Worst November in Two Decades

US spending on video game consoles fell 27% last month, marking the worst November in two decades as tariffs and rising component costs pushed prices to record highs.

American consumers spent $695 million on hardware like Nintendo Co.’s Switch 2 and Sony Group Corp.’s PlayStation 5 in the period, the lowest in the pivotal month for holiday shopping since 2005, according to a report from market tracker Circana on Wednesday.

Nintendo ceded its lead in dollar and unit sales to Sony’s PS5 for the first time since the June release of the Switch successor, adding to concern ...