HomeNEWSGaming retail is booming, but global supply shortages are affecting stock availability

Gaming retail is booming, but global supply shortages are affecting stock availability

As New Zealand goes in and out of Covid Alert Levels, what is certain is that consumers are looking for ways to keep entertained at home.

While bread makers then sewing machines were previously trending, recent data from PriceSpy indicates an increase in popularity in gaming products and consoles, such as the PS5 and graphics cards.

No doubt this recent trend in gaming products was accelerated by the launch of two popular gaming consoles in November last year. The rise in the price of the bitcoin cryptocurrency is also driving interest in graphics cards globally, as graphics cards are required to mine bitcoin currency.

However, despite buyer interest for gaming goods being on the up, New Zealanders looking for ways to keep busy and entertained across the latest change in Alert Levels, may be disappointed. As a result of Covid-19 impacting manufacturing processes, supply chains, distribution channels and consumer buying interest rising, many shoppers are struggling to physically get hold of these in-demand items from retailers due to global supply shortages.

PriceSpy notes that the above circumstances are impacting the overall price of goods. For example, the new PS5 can currently only be purchased in New Zealand second hand, with purchase bids reaching as high as $1,650 on Trade Me. And, according to PriceSpy’s price index, the indexed price point for graphics cards has risen, up nine per cent year-on-year since the start of the year.

Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, notes that as Covid-19 continues to affect the retail sector, consumers are carrying out important price research before they buy, to ensure the prices they are purchasing at are fair and reasonable and not over the odds.

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