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October 29, 2020 05:37 pm

Sony's PlayStation 5 Is Beating Xbox in the Online Black Market

Sony's PlayStation 5 and Microsoft's Xbox Series X haven't hit stores yet, but the video game console showdown has already begun in the online black market. From a report: Demand for the PlayStation 5 on resale websites is outstripping that of the new Xbox, and shoppers are paying more to get their hands on the first run of products, market research shows. The vibrant market for scalpers offers a preview of next month's contest when the two rival game companies will release their new consoles to a global audience with a seemingly endless appetite for home entertainment. In the U.S., consumer spending on video game hardware, content and accessories is at record highs. The pandemic triggered a surge in players and engagement through the spring and summer months, at times depleting inventory of the current generation of consoles, according to research firm NPD Group. The PlayStation 5 and Xbox Series S and X, the first major console releases from Sony and Microsoft in seven years, are among the most highly anticipated gadgets of the holiday season. Spending on games over the holidays is expected to jump 24% from last year. "Units will be tough to find," wrote Mat Piscatella, an analyst at NPD.

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