Opinion: Leveraging the 'staycation' effect

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Opinion: Leveraging the 'staycation' effect
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Entertainment provided by a single video game, for example, can last days or even weeks (and more if we're talking about party games), which is much longer than a trip to the movies.

Making the proposition even simpler, social games like the sing-along party-starter Lips and Guitar Hero make great options for fun weekends with mates when you add some drinks and nibblies.

It's all about highlighting the cost-efficiencies of at-home entertainment - cheap fun in challenging times.

As consumers want more for less, retailers can recommend add-on products to compliment their customers' existing home entertainment setup.

For example, a gaming console is a great companion for a High Definition TV.

Teamed with a PC running Vista it unlocks the console's set-top box functionality so users can watch, pause and record television without having to buy a separate box.

The same console can also be used to store and stream music as well as hold photos while enabling online chat and gaming through Xbox LIVE.

The result is less clutter in the lounge room to create a digital lifestyle.

 Gaming industry revenue in Australia rose 47 percent to $1.96 billion in 2008, which is twice the size of the Australian cinema box office sector.

This shows that stay-at-home entertainment is well and truly part of our popular culture.

Many of the trends that emerge as a result of the current economic landscape, like the mainstream embrace of interactive home entertainment, will stay around for years. 

Retailers need to seize opportunities now to be ahead of the curve.

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