GameStop: Trade-ins of games and consoles surge prior to next-gen launches

Sony announced Sunday that it sold over 1 million PlayStation 4 consoles during the first 24 hours of its U.S. launch. Now it appears that one of the reasons behind its successful launch is due to people turning far more of their older games and consoles than they normally do to pay for their new hardware.

Polygon reports that retailer GameStop received four times the amount of trade-ins for games and consoles on the Sunday before the PS4 launch. GameStop's senior vice president of merchandising Bob Puzon indicated that some customers are bringing in their entire game libraries in order to make full pre-order payments on next generation consoles. He stated that 43 percent of their customers who have pre-ordered the PS4 and Microsoft's Xbox One have paid for them in full, and of that number 20 percent have used all or part of their trade-ins to complete their order.

In addition, GameStop is projecting that customers, on average, will buy four new games when they purchase each new PS4 or Xbox One this year, which is a very high attach rate compared to previous console launches. Puzon says the next few weeks, including the week of the Xbox One launch on Nov. 22, will be GameStop's busiest of the year in terms of processing trade-ins of older product.

Source: Polygon | Shoppers walking by Gamestop via Shutterstock.com

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18 Comments

That makes a lot of sense. I was wondering how so many people were able to purchase launch consoles in this economy... I wish I'd thought of that. LOL

gotta love it, trading games and consoles in for much less than they are worth, and Gamestop sells your trade-ins for a big profit.

sell your consoles and games privately, you'll get more money for them.

One of the reasons why I'm so reluctant to go completely digital when it comes to games, movies, books, and comics is that they become worthless, and you can't resell them to put then towards new toys.

dead.cell said,
w00t! I'ma get me a PS3 now haha


I thought about this as well. Haha.

Do I really want to double dip though and buy the same games on another console? Hmmm

It's worth it right now for No No Kuni, Tales of Xillia, Last of Us, Uncharted, Ratchet & Clank, God of War, Dragon's Crown, Hotline Miami, and Wipeout HD.

That's cause they're all exclusive to ps3! There's lots of them to discover and now's a great time, most of those are under $20!

dead.cell said,
w00t! I'ma get me a PS3 now haha

I've had an Xbox 360 (my first console ever) for nearly 2 years now, despite not being much of a gamer, and the only game I bought during this timeframe was GTA4 + its expansion packs for $15. I'm definitely looking forward to a ****-ton of cheap games for the (now) older consoles.

Yeah, I was contemplating a 360 just because there's a bargain bin at Best Buy with $5 games. I saw some pretty decent ones in there last time.

dead.cell said,
w00t! I'ma get me a PS3 now haha

I've been thinking of doing the exact same thing. If I can pick one up with a couple of exclusives.... hmm...

I just don't need to waste the money . It's a tough one: Buy a used PS3 + some games now, or save that money to buy a PS4 later.

I realize that game backwards compatibility isn't that big of a deal over the life of a new console (I mean, who is going to buy XBox 360 or PS3 to play XBox or PS2 games these days?) That being said, if PS4 would have been backwards compatible with PS3 games, I'd probably be more willing to buy one closer to release because of all the exclusive titles I've missed out on because I have a 360. As it is now, what is the hurry? I'll wait until there are a few games I'm interested in playing on the PS4 then get one.

Most of their revenue. Retailers don't make much off new games so there is a huge incentive for them to maintain a large used library. They are likely to make over three times as much money with a used game than a new one.

Given BestBuy is currently running a promo till the 23rd where they give you a min of 100$ for either a PlayStation 3 or Xbox 360; i'm not surprised. They are also giving 100% bonus trade-in game value. So your $4 trade in game is worth $8.

Details of trade-in for the un-informed;

Must power on.
Must include power cable and av cables. (not hdmi).
Must not be stolen (Lol).
Must not been opened (mine was Lol).
Must include a hard drive if it had one originally.
No Controller is required.
Promo is added on to the trade-in value of your console. IE; Trade-in $3 value, + $97 promo once trade-in is processed = $100 gift card.

Happy trade-in!

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