After seeing how well Game Stop is doing during the recession, it looks like Best Buy is going to try the matching sale.
The electronics group will likely commence to take second-hand video games used for store credit at their establishments across the nation. The second-hand video game market is estimated to be worth between 2 and 3 billion dollars annually. Best Buy has attempted to take the leap into used video game sales in previous times, offering about 5,000 titles, but never made it past the test stages.
Game Stop has been able to do so well because the stores it chooses to purchase are generally small with little overhead and are located in places where Best Buy wouldn't go.
One of the reasons I prefer concerning the Best Buy strategy is that they are giving gift cardsin response for the used games. The gift cards can be used on something in the store, not only other video games. This possibly will escort to a few people trading in games which have been receiving dust to attempt to finally obtain that brand new mobile phone accessory or digital camera:)
Some believe that Best Buy entering the market might hurt Game Stop's end result but not everybody agrees:
?While we believe that Best Buy's entry into the used video game market will create a new overhang on shares of GameStop, we expect Best Buy's initiative to expand the used video game market rather than take significant share from the specialty channel,? said Colin Sebastian, an analyst at Lazard Capital Markets.
Second-hand video games are an exceptionally beneficial marketplace for sellers, such as second-hand textbooks, they sell for just less than retail for a new title. Used video games characteristically sell for $5-$10 less than a new copy and retailers pay zero to the publisher for those sales. GameStop makes the majority of its money from the sale of used video games and most of its success is due to this.
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Article: Best Buy Steps Onto The Once Used Game Scene Author: Jennifer McClelland Publication Date: 2009-10-16 Total Views: 260 Word Count: 340 Category:Home /
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