Best Buy has revealed a curious way to cash in on worldwide shortages and shipping delays: subscriptions. This week, the company announced a $200-a-year program that promises consumers lower prices and exclusive access to hard-to-find devices. While the new membership also includes 24/7 tech support and free shipping, the idea of guaranteed product availability might be particularly appealing to shoppers worried that their orders won’t arrive in time for the holidays.

The new Best Buy service is a stark reminder that retailers don’t anticipate that supply chain issues, including the global semiconductor chip...