Next gen consoles are the hottest and hardest to get items in the US right now and it looks like it will remain that way for the Xbox Series X|S.
Without looking at specific numbers, this console launch is arguably one of the biggest in recent history. The Xbox Series X|S and PlayStation 5 are sold out within minutes of going back in stock at all major retailers. Buying these items at retailers is nearly impossible and creating a microeconomy within the gaming community. The question that many individuals are asking is “When am I going to be able to get a new console?” While we do not have a great idea, Microsoft’s CFO, Tim Stuart, gave some insight on how elusive the Xbox Series X|S are going to be over the next few months during a talk at Jefferies Interactive Entertainment Virtual Conference.
When asked about meeting the “incredible demand,” Stewart stated that it is to be expected to see shortages “into the post-holiday quarter, so Microsoft’s Q3, calendar Q1.” This makes it evident that over the next five to six months many are going to struggle to get the console from retailers. The likelihood of get one of these consoles is highly unlikely for the holiday season, at regular price at least. The shortages of the console have made them even more expensive to purchase, with secondhand markets, like eBay, selling the consoles for $1000 plus.
The good news is that if you can wait Stewart expects that after that six-month window the supply will be equal to that of the demand. Allowing those who are willing to wait to get the console for the normal retail price.
With this being the first console launch that I have truly been involved with, it is incredible how quickly these consoles are sold out and how much people are selling them for on the secondhand market. It is equally as shocking at the number of people willing to pay 2-3x the retail price for these consoles. The prices people are purchasing the consoles for could purchase parts for a PC that is faster and more powerful than the Xbox Series X, the “world’s most powerful console.”
For those who are looking for a console, stay strong and keep an eye on major retailers’ websites. If you do not get one now, you will get one eventually! If you are one of the lucky few who are enjoying the Xbox Series X, be sure to look into the numerous games that can be used through Xbox Game Pass, including those apart of EA Play.
You can read and listen to Tim Stuart’s entire talk at Seeking Alpha.