PlayStation 5 Seekers Are Too Much For Walmart, Best Buy To Handle

Online buyers of Sony Corporation’s SNE PlayStation 5 on websites of Walmart Inc WMT and Best Buy Co Inc BBY reported facing glitches on the launch day of the console, CNN reported Thursday.

What Happened: Walmart had spread the sales of the console every three hours beginning Thursday noon but shoppers began facing issues with the company’s website soon into the launch, according to CNN.

Linebacker for the Cincinnati Bengals, Logan Wilson, was among the harried customers who took to Twitter to complain about their marred online-retail experiences. 

Walmart said the troubles of the customers were caused by a massive traffic surge “which caused some customers to experience intermittent slowness for a few minutes,” as per CNN.

Best Buy acknowledged that some customers were not able to buy a PS5 on its website. The retailer said there would be “more opportunities” to order one from its website throughout the holiday season.

Why It Matters: In Japan, the console sold out on the day of its launch with retailers having to resort to draws to pick lucky first-day buyers. Some units were on sale at an online flea market platform for over $900 in the country, according to Reuters.

Analysts have predicted shortages for both Sony and Microsoft Corporation’s MSFT consoles running into 2021 exacerbated by demand arising due to stay-at-home gamers.

Price Action: Walmart shares closed nearly 0.2% higher at $148.23 on Thursday and fell 0.16% in the after-hours session. On the same day, Best Buy shares closed 0.5% lower at $114.

Photo courtesy of Sony