Entry #8 The Gaming Console Market


One of the items that are on top of many kids wish list this year for the holidays are the new editions of the Xbox One Series X and the PlayStation 5. Unfortunately, many of these kids probably won’t be getting one this year due to the microchip shortage, and the resell market for these gaming consoles has also surged due to this.

These new generations for these consoles have been out for a little over year to this point and now and are still selling out instantly every time they release some, and the only people getting them are the resellers who use automatic software that can buy multiple consoles all at one time. These people then are able to turn around and sell them for about $800 each to the people who actually want to play and enjoy these new gaming consoles.

Why doesn’t Sony or Microsoft just release more consoles then? Due to the Covid-19 pandemic there was a massive microchip shortage that is a necessity for these consoles, causing for less of them to be manufactured, bigger delays, and less of them available to the public. Many experts believe that these highly sought-after items won’t be widely available until the middle of 2022 and maybe even later.

I personally don’t think there is anything wrong with these consoles being hard to get unless you are willing to pay resell for them as there is nothing anyone can do about it. The manufacturers are trying to produce as much as possible with the materials that they have at this moment. I also don’t see anything wrong with reselling them as I personally do it for the easy money. I view it as if I don’t resell them someone else will do it. It will be interesting just how high these prices will get with the Holidays quickly approaching and when will these gaming consoles be readily available to all.


Comments

  1. SydNovember 28, 2021 at 6:47 PM

    My primary platform for games is PC, but I have heard a lot about scalping within the console market. It would be nicer if people could buy consoles at msrp, but I agree that with the current situation (microchip shortage, bots auto-buying consoles, etc.) it would be difficult.
    Similarly, graphics cards for computer have gone up due to the rise of cryptocurrency and scalpers too. For example, the RTX 2060, was priced around $300 at launch; the graphics card now is priced from $600 to $800 online.

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