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GameStop to Give Away $250 Million in Trades in Holidays
We know that GameStop is a Fortune 500 company but exactly how big are their deals going to be this holiday season? Let us look at some of the figures that they have shared.
According to a recent press release, the retailer plans to give away ‘a quarter of a billion dollars cash or credit’ though their buy and sell program. You would wonder how on earth they plan on doing it, right?
Jason Cochran, the senior vice president of pre-owned operations at GameStop discussed their projections regarding family spending and trade-in credit estimations from them:
There is significant untapped value in the unused electronics many of us have on hand. Our research indicates that, on average, most families own three to five devices representing between $200 and $500 in trade-in value. GameStop now has more than 100 games for which we’ll pay $20 or more. Selling us your pre-owned games, consoles and consumer electronics gives you extra currency to apply to your gift buying budget.
Based on these approximations and their expected sales figures, GameStop is confident that enough people will come in for trade-in offers with their pre-owned products to meet the $250 million mark.
If you check corresponding periods, the fourth quarter of every year brings in the biggest chunk of sales to the gaming industry all thanks to the holidays season.
Annual console game spending was $93 billion last year. Do you think this year is going to pull off similar figures knowing that last year it also was the release period of PS4 and Xbox One?