Speaking with VentureBeat, GameStop president Tony Bartel said that only 40% of the massive games retailer's customers know about trade-ins, whereby consumers can give up old games in favor of new ones, albeit at severely profitable margin for GameStop.
Bartel said that "hardcore" gamers often trade games, many more don't realize that trading works as an option for anyone hoping to save some money while also playing newer video games. "The biggest opportunity with trades is awareness," Bartel said.
Believe it or not, only 40% of the people who walk into a GameStop store today know that we accept trades of games. The way our people look at it is [that] it's another form of currency. We see it ias a way to affordably get the games that you really want. Seventy percent of that trade credit goes right back into purchasing new games. We see it as an integral part of the entire video game ecosystem.
VentureBeat reported GameStop's $1.2 billion in trade credit spent on gaming products in-store, which makes it sound like consumers are more than aware of the ability to trade games, but Bartel said it remains an uphill battle for the company:
What we're constantly trying to do is create awareness. 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.
