Why is PS5 stock so low right now? There are several factors that explain why you can't find Sony console in stock today, and we'll explain each of them. The prospects of claiming a PS5 restock this month aren't very rosy either. Next-gen console inventory is "disastrous for April," according to an anonymous retail source who spoke to TechRadar. For advance notice, follow Matt Swider as he follows the PS5 console:
(Image credit: Future) Here's how to fix the PS5 stock issue. Now, here's why this is happening in the first place.
1. Sony PS5 setbacks started with the pandemic
Sony didn't announce the PlayStation 5 for months during the first half of 2020 (we first saw the Xbox in December 2019), reportedly delaying the initial reveal on several occasions due to the pandemic. Rumors of a February launch event gave way to a supposedly scheduled March performance that turned into an April reveal that never was. We didn't even see what it looked like until June. Manufacturing and shipping times have lengthened and demand has outstripped supply: it's been seven years since the big launch of a Sony console. So Covid-19 has a lot to do with why you can't find the PS5 in stock today. Things didn't take off for a product that everyone wanted so badly. But it is not the only reason.
2. PS5 is "Work From Home" collateral damage
This is what people don't think of when they think of fun and entertaining video game consoles: changes in your work life have had an impact on the standard PS5. The shift from headquarters to a near-universal work-from-home situation has created incredible demand for computers and webcams, and therefore for semiconductors and components, some of the same parts Sony uses for the PlayStation 5 console. Laptops increased their sales, and that is a priority for manufacturers.
3. Touts screw things up for everyone
Resellers take the brunt of the blame for why you can't find a PS5, and while they're not the only reason (they often get all the blame), they are a contributing factor. People who buy on eBay and StockX don't help either. The most insidious resellers can ping retail websites every few seconds for restocking with bots, reclaim inventory through automation or manual checkout, and keep them away. They can then resell the PS5 for around €1000, thus doubling their money.
4. Scammers make things worse
Worse than scalpers are scammers who target hapless consumers via Twitter, Facebook Marketplace, OfferUp, and outright scam websites designed to look real. The scammers promise to sell the PS5 to buyers for around $550, a small but believable markup (except when you think they had to pay tax, but most people ignore that detail). Of course, thieves never give up the console. Fraudsters often have multiple consoles on hand, just enough inventory to take a photo of a piece of paper with the buyer's (victim's) name written on it. Your console is usually surrounded by nine other PS5 boxes. This "proves" to the buyer that you are a legitimate seller. Money is sent through one of the following four apps: Cash App, Venmo, Zelle, or Apple Pay Cash. The ghost salesman then onto his victim.
5. Crypto miners around the world are to blame too
It may be more profitable to buy Bitcoin during your downturns than to mine it right now. That hasn't stopped people from buying GPUs with the goal of one day profiting from mining Bitcoin, Etherium, and other open source decentralized blockchain currencies, though—once your bills drop, electricity is covered. Demand for graphics cards is so high that we can't find the Nvidia 3080 in stock for more than a few seconds at a time once a week. AMD GPUs are going through the same crisis. Good luck finding something like the AMD 6800 XT in stock. And guess what the PS5 and Xbox use for their graphics? AMD GPUs.
PS5 Restock Outlook: 'Disastrous' for April
Finding PS5 stock may not be more difficult until April and May 2021, according to retailers who spoke to TechRadar on condition of anonymity (citing Sony's use of shipments to their stores). They don't see the expected inventory. Best Buy failed to restock this week, a rare failure after opening orders every Friday for the past six weeks. And last Friday at Best Buy, it was a saying: Only PS5 Disc consoles were in stock, not PS5 Digital Edition. Walmart and Sony Direct have also been quiet this week. If PS5 stock becomes harder to find, we suggest grabbing the console when you can, for its retail price. While analysts predict the semiconductor shortage will be resolved by June or July (depending on who you ask), Black Friday and Cyber Monday demand will be strong again.