Always, always physical for consoles. I like purchasing products, not paying for access. Digital games are little better than glorified rentals; you're not actually getting anything tangible out of it, and it can feasibly be taken away from you in the future...and will be once the storefronts shut down if you don't have it downloaded and keep it downloaded forever. Considering that new games tend to go for full RRP - which is already far too much - on digital storefronts and don't depreciate in price over time the way physical games often do (excluding sales and, of course, Nintendo games) it really rubs me the wrong way. The digital landscape on consoles is an abhorrent mess and I'm not going to buy into it.
RRP these days is £49.99+ and yeah, that's disgusting. Especially when there is no cost of production and no retail store that needs to take a cut of that involved with digital games. I'm not going to line some greedy corporate executive's pockets, because I am sure that is where the excess goes. If I did I wouldn't be able to afford half as much as what I do buy either, and there are a lot of games I want to experience. For me to buy digital, I have to have no other choice, and I'll wait for a sale unless I want to play the game immediately.
Obviously with PC I have no other choice, but at time of writing I do very little PC gaming, and Steam Sales are frequent and when they do happen they actually reduce the price by a noticeable amount, not down to second-hand copy (or sometimes not even that) prices the way that console storefonts do. There's less of a danger of access being stolen from you - at least for the moment - when it comes to PC gaming, so the digital-only landscape isn't as much of an issue.