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February 26, 2024

PS5 Hits Record Low Price of $349 in Black Friday Doorbuster Deals

AiBot
Written by AiBot

AiBot scans breaking news and distills multiple news articles into a concise, easy-to-understand summary which reads just like a news story, saving users time while keeping them well-informed.

Nov 23, 2023

The highly sought-after PlayStation 5 console has received major price cuts for Black Friday 2023, with some retailers offering the disc version of the console for only $349 – the lowest price ever. This rare chance to buy Sony’s latest console at such a heavily discounted price is driving frenzied demand both online and in physical stores across the country.

Overview of PS5 Black Friday Deals

The PS5 originally launched in November 2020 with a price tag of $499 for the disc version and $399 for the digital edition. Supply constraints over the past two years have made the console extremely difficult to purchase, often selling out instantly when sporadic restocks occur.

However, major retailers have now unleashed a flood of inventory for the holiday shopping season, with significant discounts that make the PS5 more affordable than ever before.

Retailer Deal
Target PS5 Disc Version – $349 (in store only)
Best Buy PS5 Bundles from $559
Walmart PS5 Bundles from $559
GameStop PS5 Bundles from $594

In addition to console bundles, many retailers like Amazon, Best Buy, Target, and Walmart are also offering deals on PS5 games, accessories, PlayStation subscription services, and more. Popular first-party titles like God of War: Ragnarok, Horizon Forbidden West, and Spider-Man: Miles Morales have discounts up to 50% off.

For gamers who already own a PS5, this presents an excellent opportunity to build up a game library on the cheap. And the prospect of scoring a brand new PS5 for only $349 – the lowest ever price – is attracting hordes of eager customers into physical retail stores across the nation.

Chaotic Scenes Reported at Target for $349 PS5 Deal

The eye-catching $349 deal for the PS5 disc version is a Target exclusive available in store only on November 25th. Lines started forming late in the evening on November 24th at Target locations nationwide in anticipation. By early morning November 25th, customers who failed to secure one of the limited early access tickets were turned away.

Stores have been overwhelmed by the crowds and demand, with reports on social media of chaotic scenes unfolding inside Target outlets. In some cases fights have broken out between customers vying to grab one of the few PS5 units available per store. Police have even been called to some Target locations to restore order in the face of the frenzy. One Target employee described the morning as "utter chaos" with "grown men pushing each other" and "people crying" after missing out.

The early access ticket system instituted by Target to manage the demand does not seem to have prevented disorder in stores once doors opened. Customers in some regions complained on social media about waiting hours in line despite having a ticket, only to find the store had sold out its entire PS5 inventory within minutes.

Clearly Target underestimated the tremendous appetite among gamers for the chance to buy Sony’s cutting edge console at this record-low price of $349. It illustrates the ongoing intense demand for the PS5 two years into the console’s lifecycle. Rival retailers like Best Buy and Walmart have not come close to matching Target’s eye-watering $349 discount. This Black Friday promotion is a truly unique opportunity that consumers have pounced on.

What’s Driving Strong Ongoing Demand for the PS5 in 2023?

Sony’s latest generation console has become enormously popular thanks to its cutting edge features, stellar first-party exclusives, and an expanding library of fantastic third-party titles. The ultra high-speed SSD and immersive haptic feedback from the DualSense controller allow next-generation gameplay experiences beyond what the previous PS4 can offer.

And Sony’s studios have upheld their reputation for excellence by releasing several critical and commercially successful blockbuster exclusives in the two years since launch, like:

  • Spider-Man: Miles Morales
  • Ratchet & Clank: Rift Apart
  • Returnal
  • Horizon Forbidden West
  • Gran Turismo 7
  • God of War: Ragnarok

These system-selling games highlight the benefits of the PS5 hardware and are only playable on PlayStation platforms. Exciting upcoming exclusives like Marvel’s Spider-Man 2 and Final Fantasy XVI will continue expanding the console’s catalogue of must-play games.

Moreover, the PS5 offers the best way to experience fearsome third party titles like Elden Ring, Cyberpunk 2077, and Call of Duty: Modern Warfare 2 with faster load times, higher resolution graphics, and advanced immersive controller feedback.

The Package of cutting edge hardware matched with an incredible selection of exclusive games has made the PS5 a red-hot product. Gamers are clearly still highly motivated to get their hands on the console, even two years post-launch. This demand outstripping supply is why the Black Friday discount deals are proving so intensely popular.

What Does This Mean for the Future PS5 Market?

In the short term, the Black Friday promotions suggest retailers have built up considerable inventory stockpiles heading into the peak holiday shopping season. We can expect further discounts and PS5 gaming bundles as retailers compete for sales during cyber week through December. Sony will want to keep riding this momentum to drive PS5 adoption rates higher.

However, analysts believe the market dynamics will flip in 2023 from a supply-constrained environment to a demand-constrained one for the PS5. As more gamers manage to purchase the hard-to-find console during Black Friday and the holidays, the shortage of customers will replace the shortage of consoles.

In the second half of 2023, price cuts and discounts may become more commonplace as Sony and retailers deal with a glut of inventory. The used PS5 market will also continue growing. This forthcoming shift to a buyer’s market will make 2023 a more affordable time for late adopters to finally secure the iconic white and black console.

The key unknown remains the extent that the next generation of PlayStation VR2 virtual reality hardware releasing in 2023 will stimulate further demand for the PS5 platform. If the PSVR2 proves to be a killer app for VR, it could maintain the PS5 momentum.

So for gamers still lacking Sony’s flagship games machine, Black Friday 2023 represents the best opportunity yet to finally join the next generation of gaming at an historic low price. The doorbuster $349 deal offered exclusively by Target cements this holiday sales weekend as a momentous generational turning point in the PS5 lifecycle evolution.

AiBot

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AiBot scans breaking news and distills multiple news articles into a concise, easy-to-understand summary which reads just like a news story, saving users time while keeping them well-informed.

To err is human, but AI does it too. Whilst factual data is used in the production of these articles, the content is written entirely by AI. Double check any facts you intend to rely on with another source.

By AiBot

AiBot scans breaking news and distills multiple news articles into a concise, easy-to-understand summary which reads just like a news story, saving users time while keeping them well-informed.

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