The busy holiday shopping season is nearly upon us--Amazon's Prime Day begins October 13, with Black Friday coming in November before the holidays. Video games are expected to have a huge holiday at retail, and now NPD analyst Mat Piscatella has released his predictions.

In a blog, Piscatella says he expects total spending on video games in the US to reach $13.4 billion in November and December, rising 24 percent compared to last year and setting a new holiday season record. Console hardware is expected to drive the growth, which makes sense given that the PS5 and Xbox Series X/S consoles are slated for release in November and are expected to be very popular.

Piscatella said the total amount of money spent on video games in the entirety of 2020 might surpass $50 billion, which would be a new all-time high for the US.