Only 40% of people shopping at GameStop know they can trade in their games for store credit or cash.
GameStop's trade-in policy is one of its pillars, but many people think of GameStop as only a place to buy games. GameStop president Tony Bartel told VentureBeat on Friday "only 40 percent of the people who walk into a GameStop store today know that we can accept trades of games."
Trade-ins allow customers to receive in-store credit or cash from GameStop when they bring in used games. GameStop then sells the pre-owned games at a lesser price, and the company pushes for used games sales to make the stores a profit.
Even fewer customers know they can trade in old hardware and smart devices for credit applicable to anything in the store.
GameStop sees about $1.2 billion in store credit on used games in stores annually, Bartel said. About 70 percent goes to purchasing new games. "We see it as an integral part of the entire video game ecosystem."
GameStop locations regularly have posters around the store indicating the company will buy games back from consumers. However, some percent of customers are buying games for other people, such as family members, and may not be aware of - or care - about trade-ins.
"What we're constantly trying to do is create awareness," Bartel said. "We'll continue to do that. The Power Up Rewards [customer loyalty card] is a powerful tool for us to drive awareness of our trade program. You'll see it in our stores. You'll see it in interactions with our store associates. We're on a constant quest to inform the public that there's a residual value for your games."
Source: Venture Beat