PlayStation 5: a Singapore study extols the virtues of holding off on a purchase until later
The PlayStation 5 (PS5) series has been announced - to the possible chagrin of some, as the Standard Edition is markedly expensive for its line. This is particularly apparent in Singapore, in which this disc-enabled console is 729 SGD. This converts to ~US$534, as opposed to its $499 tag in the US. The Digital Edition is 599 SGD (~$439), same as the standard PS4's starting price.
Furthermore, Singaporean consumers have reportedly been subject to the dearth of pre-orders and scalping also seen in other regions. However, the e-commerce aggregator iPrice Group seeks to allay possible dissatisfaction with an argument that it may be better to wait until later to purchase the console in any case.
It has conducted a study that, as it claims, has resulted in a model of PlayStation discount patterns among online retailers (a sales platform chosen as it is apparently in a better position to cut prices compared to traditioinal stores). Applying it to the PS5 results in predictions that its price will fall 6% by May 2021, and 8% by November 2021.
Therefore, the PS5's Standard and Digital Editions may be down to 686 (~$503) and 564 (~$414) SGD in about 6 months from now, or 634 (~$465) and 521 (~$384) SGD a year from their launch. The again, it could be argued that this research would not apply to different markets and their particular circumstances.
However, it does highlight the potential worth of being ready for similar discount opportunities in other regions, and possibly in the even more immediate future. For example, the winter holidays in regions such as the US and Europe may come with particularly good deals as efforts to drive business in the face of the Covid-19 pandemic kick in.