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@daveofduncan It is for retail, cause the pressure comes from retail outlets (such as Game) on the Publisher, due to competition between their relative retail outlets.
Such pressure does not come from SONY on the PlayStation Store, except most likely during certain larger sales throughout the year. Most of the discounts are undoubtedly derived from the Publishers.
If it's about digital Price drops matching their retail Price drops, then that is definitely a Publisher question. SONY cannot just lower the prices to match Retail, and to be honest...There's little need. Publishers don't want to piss off physical retail outlets, so it's more than likely most don't bother with digital price matching. For now, there's no need.
Not until physical retail outlets are the minority of sales, rather than the majority, will Publishers rethink their pricing across the board for digital/physical. There are select publishers who are better than other at this, but there are also publishers (like Nintendo) that almost never markdown their 1st party prices (outside of a temporary sale) with physical/digital units regardless.
It all depends on the publisher's practices, but they're definitely the one's to reach out above the exclusive platform holder for a console.
Steam competes with Origin, Gog, UPlay, Blizzard, etc...It may dominate against these, but it does compete within the same distribution on the PC platform. PS Store has no such mass competition, it is (virtually) the only place to purchases digital titles aside from Amazon, GMG, and select other online retail outlets. Since it is on top, you'll find no such need for competition from the retailer (SONY), but instead from the Game Publishers themselves for their overall revenue boost (or other such promotional reasons).