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Here’s How Long You Have To Wait to Get a Discount on the New Playstation 5

Good things come to those who wait.
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There’s no doubt that one of the most anticipated gift items in the coming holiday season is the new Sony Playstation 5. In fact, the company expects the PlayStation 5 hardware to sell about six million units from its launch to Marsh 31, 2021, according to an independent analyst.

Also read: Study Reveals the Two Pop Songs Most Enjoyed by Psychopaths 

Sony finally unveiled the price and release date for the PS5 last week. The standard version will retail for about P24,222 while the digital version is priced at P19,377. Both will be available worldwide starting November 19, 2020. The company said consumers in the Philippines will be able to make pre-orders.

While initial reactions on social media show that these price tags are reasonable, there are still people who think they’re pretty steep and probably won’t be able to pay for the console immediately. For sure, the PS5 Standard version is the most expensive PlayStation console to date (the PlayStation 4 was launched in 2016 at around P18,600).

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But ecommerce aggregator iPrice Group has issued a report saying that the console might not remain that expensive for long. If you’re willing to wait, iPrice predicts that in about six months, or in May 2021, the price of the PS5 Digital will go down to P18,200 while the Standard version will be at P22,700. That represents savings of up to P1,400.

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Photo by iPrice.
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By November 2021, prices will likely drop even further to P16,700 for the Digital version and P20,900 for the Standard version, or savings of about P2,600 and P3,200.

iPrice said it examined the price history of PlayStation 4 Pro, collecting and comparing selling prices of the console throughout the years on over 150 online shopping websites, to come up with the prediction. 

“The average online selling price for Sony consoles tends to drop by six percent six months after release and then by a further eight percent one year after release,” iPrice said.

Also read: These are the Playstation 5 Games People are Most Excited About

The ecommerce aggregator added that the discounted prices often come in the form of seasonal discounts from nationwide online retailers or deals from unofficial sellers in the country. Apparently, selling online allows these sellers to offer better prices than traditional retail. 

In addition, iPrice said that the first official price drop of about 15 percent for the Playstation 4 happened two years after its initial launch.

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Paul John Caña
Associate Editor, Esquire Philippines
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