If you are a gamer, there is no chance you don’t know about the famous GameStop. At GameStop, you just have to sell your old games and get the new ones at a low price.
However, the concern that this firm is facing right now is, because of its shady policies. People are questioning if GameStop is a rip-off.
We have gathered some information about the video game retailer. Read this article in full to know if GameStop is a rip-off or not.
How it all started?
GameStop is a digital-first omni channel. GameStop buys games and gaming accessories through their buy-sell trading program. You can sell your games to them in exchange for cash or store credits. The gamers get their favorite games at a low price. But for the traders, the price they are paid is not market competitive.
This is the reason gamers are wondering if GameStop wants to promote gaming by selling games at a cheaper price or are ripping off the sellers to make profits.
What indicates if GameStop is a rip-off or not?
The gamers feel more comfortable trading with GameStop than other sites on Craigslist. It is because GameStop is a brand, and it has also maintained a good reputation when it comes to trading.
However, you may get a better cashback on your game, if you sell it to another gamer directly than what GameStop will give you. Let’s say, if you sell your Xbox One X to GameStop, they will buy it for $300 if you want store credit and for $240 if you want to get the cashback. Moreover, the rates are non-negotiable. They will then resell it for $480, which is $180 more than what they will pay you.
Although the price of Xbox One X is cheaper at GameStop if you look at the difference between the rate at which they purchased and the rates at which they sell is quite high.
Apart from this, the GameStop employees have also admitted that when a guest asks for a new game, they are strictly asked to clear out the resell lot first. This is why they have to lie to the customers about the unavailability of the new game, even though they would have it.
The reason GameStop does it is that they make more profit by reselling the games and accessories, rather than selling the new ones. The statistics from the third quarter of 2016 highlight that GameStop earned around $30 million from used games. Thus, it shows, the major business of GameStop is via buying and reselling.
Before we conclude this debate about if GameStop is a rip-off or not, we want to highlight one major thing and that is, lying to your customers, just because you’ll make more profit is nonetheless a swindle.