92 percent of gamers own video game disks they no longer play, yet postpone purchasing new games for financial reasons
GRAPEVINE, Texas–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.
“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.”
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.
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.
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.
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