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Most people who walk into a GameStop don’t know that they can exchange their old games for credit at the retailer’s stores. As part of its renewed effort to educate consumers about this option, the company has also decided to make the process a lot easier.
Reports emerged yesterday that GameStop was looking to give customers more money on average for second-hand games (as Kotaku first spotted). The retailer has now confirmed to GamesBeat that it is making some big changes to its second-hand business. Last year, consumers traded in more than $1.2 billion in used software at GameStop, and more than 70 percent of that money went toward purchasing new releases. By simplifying how selling used games work, GameStop is likely hoping to see gamers trade in more than $1.2 billion this year.
Previously, the trade-in price for a game would fluctuate heavily depending on a number of things. Now, every game will only have four exchange prices depending on whether the customer is a member of GameStop’s Power-Up Rewards loyalty program and whether the customer is taking in-store credit or cash.
This policy shift should lead to a 20 percent increase to the average price of a trade-in from $9 to $11, according to the Kotaku report.
“GameStop made the decision to simplify the trade-in pricing structure that is part of our buy-sell-trade program based on positive feedback we have received from customers and store managers,” GameStop senior vice president of pre-owned business Jason Cochran said. “We anticipate this change to be well-received by our customers as they experience the added value we are now offering them for their pre-owned video game and consumer electronic products.”
“We want to provide our customers the best value for their trade and we believe customers will be pleased with this new simplified pricing,” said Cochran.
GameStop Corp., a Fortune 500 and S&P 500 company headquartered in Grapevine, Texas, is the world's largest multichannel video game retailer. GameStop's retail network and family of brands include 6,544 company-operated stores in 15 co... read more »
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