Latest News

Retail Stocks: PS5 restock: Best Buy to have PlayStation 5s in stock this week, but there’s a catch


Best Buy

got a major restock of the highly sought-after Play Station 5 this week, but there’s a catch: The upcoming drop of Sony’s PS5 on Tuesday at 12 p.m. EST was only available to Best Buy Totaltech members.

Best Buy’s Totaltech subscription gives members additional tech support, product protection and free delivery, but it also costs $199.99 a year. Subscribing doesn’t guarantee you a PS5 console, but it does give members first crack at special product-release drops and virtual checkout lines with hopes of securing a console for a retail price of $499.

See also: This list of ‘top states for business’ in the U.S. may surprise you

The PS5 restock had “limited quantities” available, according to the retailer’s listing, and this particular drop is online-only.

The move from Best Buy continues a trend of major retailers putting some of its most popular products behind a paywall. Other retailers including Walmart

and Amazon

have similarly put PS5s and other electronic consoles behind paywalls in the past year. Walmart made these items only available to Walmart+ members ($98 per year) and Amazon put these items behind its signature service Amazon Prime.

See also: Want a PS5? Walmart, Amazon and Best Buy want you to subscribe first

In addition to the possibility of growing its paid subscriber base, this method of product release will help eliminate “bots” attempting to buy consoles, since only subscriber accounts can make purchases. Bots are software used to create multiple entries for contests and faster checkout times for exclusive products. Bots are commonly used in limited online releases with products like shoes, concert tickets and other collectibles — bot software is typically faster than people at making online purchases.

Best Buy did not immediately respond to MarketWatch’s request for comment on this story.

See: Suze Orman says to do this right now if you’re worried about inflation

Also see: Elon Musk tells Trump to ‘hang up his hat and sail into the sunset’

Sony initially released the PS5 in November 2020, but the product is still not widely available due to supply chain issues brought on by the COVID-19 pandemic, as well as the global chip shortage.

“The level of demand by customers is so high for PS5,” Sony’s Chief Financial Officer Hiroki Totoki said in 2021. “We have to look at the global shortage of semiconductors, or we try to increase our capacity. We face difficulties because of this global situation.”

See also: California is sending ‘inflation relief’ checks up to $1,050 — here’s who qualifies

When will PS5s become widely available? Sony says the shortage will continue through 2022.

Cryptocurrency Stock News: SATO Technologies Corp. (TSXV: SATO) Signs a Loan Agreement with Sygnum Bank AG for CHF3,000,000 (CAD$4,000,000 Equivalent) for Financing Bitcoin Mining Equipment

Previous article

Best New Ideas in Money: Gen Z struggles as it enters the workforce during COVID, and with student debt at historic levels

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News