Canadian shoppers walking into stores for a new gaming console are getting an unwelcome surprise, CBC News Toronto reported. Many are startled to learn that a new PlayStation 5 now costs more than it did roughly six years ago when it first launched, and retailers warn that the high price tags are not going anywhere.
The pressure on prices traces back to the global supply of computer chips. Micron, one of the big three chip makers, expects the current shortage to last at least through 2027, a forecast that keeps driving up the cost of newer products as manufacturers compete for limited components.
Faced with sticker shock, some retailers are steering customers toward nostalgia instead of the latest hardware. According to the report, the retro market is booming, with sellers describing it as huge and still growing as buyers look for ways to keep gaming without paying premium prices.
The math helps explain the appeal. A new PlayStation 5 can run anywhere from about 875 to 1,100 dollars, while a used PlayStation 4 can often be picked up for around 120 dollars, a dramatic gap that makes older machines an attractive fallback for budget-conscious players.
Still, a used console is not a fit for everyone. As the report notes, secondhand hardware works for some buyers, but those who genuinely need something new, whether a computer or a console, may simply have to upgrade their budget to absorb the higher cost.
With the chip crunch projected to persist for years, the divide between new and used is likely to keep shaping how Canadians shop for electronics. For now, consumers are left weighing the premium for the latest technology against the savings of holding on to, or buying back into, an older generation of devices.