GameStop Survey Finds Video Gamers Leave Money on the Table…Literally
August 17 2015 - 11:48AM
Business Wire
92 percent of gamers own video game disks they
no longer play, yet postpone purchasing new games for financial
reasons
Inactivity keeps 55 percent of gamers from
trading in used games for cash or credit; GameStop gave motivated
gaming fans more than $1 billion in trade credit in 2014
According to a recent study by GameStop, a family of specialty
retail brands that make the most popular technologies affordable
and simple, approximately two in five gamers are leaving upwards of
$200 unclaimed by holding on to unused video games, meaning gamers
are literally leaving money on the table. The specialty retailer,
which in 2014 gave gaming fans more than $1 billion in trade
credit, surveyed more than 400 video game enthusiasts to learn
about their video game usage and trade-in practices.
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GameStop’s survey determined that virtually every gamer – 92
percent of those surveyed – owns at least one video game disc he or
she no longer plays. One-third of those surveyed (33 percent) said
they have between five and nine unused games lying around the
house, while 38 percent said they have as many as 10 to 20 unused
games. Meanwhile, most respondents (92 percent) have postponed new
video game purchases in the past for financial reasons. But, there
is no reason to wait. With hundreds of pre-owned items valued at
more than $20 when traded at GameStop, gamers have potential for
substantial cash and credit just waiting to be claimed so they can
afford to buy new video games immediately.
“Video games are more than just a hobby – they are a passion –
and GameStop has the perfect solution for value conscious gamers
eager to get their hands on the new games they want, when they want
them,” said Kyle Leonard, vice president of GameStop’s Trade &
Pre-Owned Business. “Pre-owned games have value and can be traded
at GameStop for cash or in-store credit. The sooner the games are
traded, the more money they are worth and the faster customers can
use that cash or in-store credit toward the purchase of the next
game they want to play.”
General Inactivity Seems to Be the Biggest Barrier
When asked why they have not yet traded their pre-owned video
games for cash or credit, more than half of survey respondents (55
percent) indicated mere inertia may be the cause – 28 percent have
considered trading in games at GameStop but haven’t gotten around
to it, and another 27 percent have traded in games at GameStop, but
only when they were motivated by empty wallets. Other survey
findings include:
- Thank You Sir, May I Have
Another: Nearly one-third of gamers (30 percent) finish playing
new games within one week, yet almost half (45 percent) wait a
couple weeks before purchasing new games. That leaves a week or
more of lag time before customers take advantage of the next
popular title. But, no need to wait. For the 92 percent of
customers who have postponed purchasing new games for financial
reasons, GameStop urges them to consider trading pre-owned games
for cash or credit to get back to gaming right away. GameStop will
accept games without the original box at full value and defective
games at a lower rate where other retailers will not.
- Speed is the Real Name of the
Game: While many wait, almost one in 10 customers prefer
instant gratification, getting a new video game within one day of
completing a game. How many complete a game may be surprising.
Nearly seven in 10 (69 percent) admit to searching online for or
asking friends to provide cheat codes. More than half (56 percent)
phone a friend for cheat codes when they get stuck and 13 percent
admitted to doing so on a regular basis. The faster a game is
traded, the more its worth!
- Lost and Found Lottery:
Unexpected places throughout gamers’ homes might hold treasure
troves of value, and allow them to trade more and save more.
- Almost three-fifths of survey
respondents (59 percent) accidentally misplaced their video game
discs among their music CD collections;
- 30 percent lost them in between couch
cushions;
- nine percent forgot they put games in
their cars’ glove boxes;
- Three percent found soggy video game
discs in their washing machines.
- Regret and Recover: A full 88
percent of respondents have made video game purchases they have
regretted either because they got caught up in the hype of a new
game (40 percent), received a bad recommendation from someone else
(30 percent) or spent too much money (11 percent). GameStop
encourages the 55 percent of customers holding on to unused games
to start freeing themselves of unwanted games using the company’s
trade program.
“We want gamers to save more. In addition to competitive
trade-in values, we help gamers extend their dollar through our
loyalty program and exceptional deals from pre-owned PS3’s (40 or
60gb) or 3DS XLs for under $100, to Xbox 360s as low as $79.99 and
a variety of gaming accessories priced at under $10 each,” said
Kyle.
GameStop’s PowerUp Rewards loyalty program offers customers
additional benefits and value when trading. Members earn points on
every dollar spent and every product traded which can be applied
toward other purchases or saved for future savings. For example,
all customers receive $30 in credit, or $24 cash, and PowerUp
Rewards Pro members receive $33 in credit, when trading in titles
like Legend of Zelda Ocarina of Time for 3DS, Grand Theft Auto V
for Xbox One or PlayStation 4, Mario Kart 8, LEGO Jurassic World
for Xbox One or PlayStation 4 and Batman Arkham Knight for Xbox
One. In addition to these values, GameStop will be offering a
guaranteed $30 buyback on selected titles releasing through the end
of the year.
For a complete list of trade-in values for any and all game
titles, consumers may download GameStop’s mobile app on iOS and
Android devices or visit www.gamestop.com/devicetrader.
Methodology
This survey was commissioned and conducted by GameStop and
research partner Survata. It was fielded between June 22 and June
24 and a total of 400 responders ages 25 to 54 participated in the
online survey with a 4.79% margin of error.
About GameStop
GameStop Corp. (NYSE:GME), a Fortune 500 and S&P 500 company
headquartered in Grapevine, Texas, is a global, multichannel video
game, consumer electronics and wireless services retailer. GameStop
operates more than 6,600 stores across 14 countries. The company’s
consumer product network also includes www.gamestop.com;
www.Kongregate.com, a leading browser-based game site; and Game
Informer® magazine, the world’s leading print and digital video
game publication. In addition, our Technology Brands segment
includes our Simply Mac and Spring Mobile businesses. Simply Mac,
www.simplymac.com, operates 71 stores, selling the full line of
Apple products, including laptops, tablets, and smartphones and
offering Apple certified warranty and repair services. Spring
Mobile, http://springmobile.com, sells post-paid AT&T services
and wireless products through its 410 AT&T branded stores and
offers pre-paid wireless services, devices and related accessories
through its 68 Cricket branded stores in select markets throughout
the United States.
General information about GameStop Corp. can be obtained at the
company's corporate website. Follow GameStop on Twitter @
www.twitter.com/GameStop and find GameStop on Facebook @
www.facebook.com/GameStop.
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version on businesswire.com: http://www.businesswire.com/news/home/20150817005897/en/
Joey MooringGameStop – Public
Relations817-722-7450joeymooring@gamestop.com
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