Major new releases are shifting between 10,000 to 48,000 units at retail, compared to 35,000 to 80,000 copies at the same point last year, reports MVC.
The original UFC Undisputed game, for example, shifted almost three times the number of copies as current chart topper UFC Undisputed 3 during the same period.
"We are trying to understand it, but everything is selling well below what it should. It is an absolute nightmare. I'm not making half the money back I'm spending on marketing," claimed an unnamed publisher.
"Nobody is looking at Chart-Track's numbers so far this year and thinking 'cool'," added another.
The UK boss of one Japanese publishing company ruled out stock shortages in GAME as the cause for the decline, saying that they will be following Syndicate and Mass Effect 3 "very closely".
> Read Digital Spy's UFC Undisputed 3 review
Watch a trailer for UFC Undisputed 3 below: