Why are we impatient to buy new things?

Published in El Pais, 5 January 2021.

We see it all the time (pre pandemic that is). Go to any Apple store 2 or 3 days before the release of the new iPhone and the lineup is as far as the eye can see. People sleep on the hard ground of a mall floor just so they can get their new phone the moment it is released. If you do not want to wait in line that is ok, someone in line will probably be willing to sell you theirs for at least twice what they paid for it. When you do get that phone, you will undoubtably read an article on it talking about the latest rumours on next years phone, god forbid you can take a moment to enjoy your new $1000 device.

This time I am not talking about the latest iPhone but the new video game console by Sony, the PlayStation 5. I am an avid gamer and do eventually wish to purchase the console but seeing the headlines on it has been laughable. People waiting in line for days, store employees being accused of withholding consoles for themselves, scalpers maxing out their credit cards to buy as many as they can to resell for twice the value (and people willing to pay for them) and those same scalpers being held at gunpoint when meeting with the “purchaser”. All this drama for a gaming console.

Of course, these are no ordinary times. The pandemic has created a perfect storm, with production slowed to create enough distance between factory employees and unexpected demand due to a global population stuck at home for the past ten months and looking for ways to entertain themselves at home.

People of course are unhappy, at Sonny, the scalpers, and the stores. Some calling for legislation to stop this while others are defending the principle of free market as unlike masks, toilet paper and food, a PlayStation is definitely not a necessity, if you do not want to pay more than $1000 for a $500 console than don’t buy one.

The bigger question is why do we need a PlayStation, or any other non essential item, the moment it comes out? What is wrong with your existing phone or gaming console that you cannot wait a few months until supply finally meets demand? What makes this all really funny is that Sony announced their supply situation should be resolved soon which means that in a couple of months if I want a PlayStation 5 all I have to do is walk into a store and buy one, no waiting in line, no paying inflated prices.