Now you can get a few more dollars for that stack of games you've been hording since college.
GameStop has announced that it will be restructuring its trade-in program, resulting in people getting 20% more value for the games they trade to the mega retailer.
The new program will come to GameStop's thousands of stores on August 18. The documentation obtained by Kotaku spells out the new system:
1. The company is elevating the base price for trading in a game by 20 percent, from $9.00 average to $11.00.
2. Members of the Power-Up Rewards loyalty program will receive an additional 20 percent value for their game.
3. Those who opt for cash rather than store credit will get 10 percent less value for their games.
A statement from GameStop explained the move: "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," said Jason Cochran, senior vice president, pre-owned business. "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."
The statement also explained that GameStop issued over $1.2 billion in trades last year, with more than 70 percent of that value applying to new products. One criticism of GameStop's used-games business is that it deprives game developers and publishers of profit when the game is resold as "previously owned" and the retailer keeps 100% of the profit for the sale, and possibly replacing a new game sale that would've given the gamemakers profit. GameStop cites the 70 percent figure as proof that buying and selling used games does benefit game companies.
As Tech Times has previously reported, trade-ins may become more troublesome to participate in, with Philadelphia stores requiring fingerprint scans.
Beyond offering more money for game trades, Tech Time has reported GameStop will also be looking to gain more business from customers by offering credit cards.
GameStop is one of the largest video game retailers in the world, with revenue for 2103 Fiscal Year over $9 Billion.
Photo: Quazie
