Thursday, March 30, 2023

The PS5 shoots its sales exponentially after solving the stock problems

During its release, the PS5 He ran into multiple obstacles along the way. For the first time in history, a next-generation console from Sony saw the light of day during a pandemic, which represented perhaps the biggest challenge in the history of the platform.

In the first two years, it was quite a challenge to find a PS5 available in much of the world. Those who managed to get it were because they had been very lucky in the waves of stock, or because they decided to break the portfolio with abusive resellers.

Fortunately for all consumers, however, the landscape has changed a lot since then. By the end of 2022, Sony managed to meet the huge demand for the PS5. All thanks to the fact that the component shortage problems were solved.

The above has caused, of course, that the sales of the PS5 they shoot exponentially all over the world. During February, 400% more units were sold in Europe compared to the same month of the previous year. In Japan the percentage grew to 450%, while in the United Kingdom it stood at 316%. Regardless of the region, the numbers are impressive.

In fact, at Sony they estimate that the first quarter of 2023 will be one of the most successful in the history of their video game division. Besides, they expect the marketing of the PS5 to be a success throughout the year.

The price increase did not hurt the PS5


The report makes two things clear. Firstly, what component shortages really hurt Sony’s business goals. These numbers that we are seeing today, in a time without a health crisis, would have been presented since the first year of availability of the PS5. However, Sony failed to produce the units that the market demanded.

Second, it is evident that consumers cared little or nothing about the PS price increase5. Let’s remember that, during August of the previous year, Sony raised the cost of its console in Europe, Africa, Asia, Latin America and Canada. According to the Japanese, this decision was made due to global “difficult economic conditions.”

It was believed, with logical support, that this movement would cause consumers to turn their eyes towards the opposite platform (Xbox), but this was not the case. Sales of the PS5 have not stopped growing despite the price increase, thus demonstrating that gamers, after waiting so long for stock, were willing to pay a little more to have the PS5 in their home.

Last January, jim ryan, head of Sony Interactive Entertainment, thanked the community for their patience. Knowing, of course, that they are already capable of supplying the demand for PS5 around the world: «Everyone who wants a PS5 will find it much easier to find one in retail stores around the world, from now on. We appreciate the support and patience of the PlayStation community as we have met unprecedented demand amid the global challenges of the past two years.”

Another factor that has helped boost sales, beyond stock, is that Sony has not disappointed when it comes to exclusive game releases. Only during 2022, we were able to enjoy Gran Turismo 7, Horizon Forbidden West and God of War Ragnarok. This year, in addition, they started on the right foot by launching the PlayStation VR2.

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