After confirming to GamesBeat that it is planning to streamline its used-games process, GameStop is finally providing details on when it will roll out.
The game retailer’s new simplified trade-in pricing model starts Aug. 18 nationwide in the U.S. Under this new plan, every game will only have four possible trade-in prices. That value will vary depending on if the customer is a member of GameStop’s Power-Up Rewards loyalty program or not and whether they want cash or store credit. In 2013, GameStop exchanged $1.2 billion in store credit for used games, and it claims that 70 percent of that went toward new purchases.
The company gave an example of a game valued at $20 for in-store credit. A Power-Up Rewards member would get $22 in credit. If a regular customer decides to take cash instead of credit, they will get $16, where the Power-Up Rewards customer would get $18 in cash. Previously, GameStop had a database full of potential prices for each game depending on the condition of the disc and casing.
“We heard from customers that they want a better way to understand the value of what they sell to GameStop and this new initiative is a way to deliver on that feedback,” GameStop’s preowned business boss Jason Cochran said. “What we’re doing in moving from 10 possible price points to four is removing complexity, making it easy for our associates to convey the value of games we buy back and that in selling us their items they are gaining a unique form of currency to buy new products.”
In addition to the simplified trade-in process, GameStop expects this will raise the average price that gamers get for their secondhand software. In fact, the company says it is now offering $20 or more in store credit for over 100 games at the moment.
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 »
Powered by VBProfiles
Mobile developer or publisher? VentureBeat is studying mobile app analytics.
Fill out our 5-minute survey
, and we'll share the data with you.