Be sure to visit us at our GoFundMe page too! Click here to go there now!
Today is Day #3 of our GoFundMe campaign! And with today’s update we are sharing our selling and rewards strategy!
Again, this is copied right out of our business plan. We are a community supported store, and because of that we believe in transparency. You know what we know.
Selling Games
Replay Games focuses on fair market value for its product. Pricecharting.com is a great tool when it comes to determining the market value for different video game products, and serves as the basis for Replay Games pricing model. Pricecharting.com does the hard work for you by looking at different major online sites like Ebay.com and collects data for every game released. When looking at a price over time, and comparing to different online websites, Pricecharting.com is able to come up three different market values for a game: incomplete (without a case or manual), complete (includes original case and manual), as well as the unopened or “collector’s” price. While Pricecharting provides us with a basis, we do compare our local competitor’s prices when considering out final price. This often means we have a lot more flexibility in what we offer for buying from customers as well as comfortably undercutting our competitors based on the “true” value of the game.
The majority of pricing Replay Games uses will be based on the incomplete price. For used video games, Replay Games uses a simple formula of $2 + 40% profit margin. The $2 is reserved for restoring and processing each used video game. Newly released video games are strictly controlled by the industry, which lock retailers at a 20% profit margin on their product.
Sales Reward Program “Rupee Rewards”
For every $100 the customer spends on video game products, the customer will earn a $5 credit that can be used for anything in the store. There is no expiration on this discount program, and only applies to video game purchases. We know that most of our competitors offer similar discount programs, but often attach expiration dates to those discounts to try and force their customers back into the store in a timely manner. Replay Games doesn’t believe it needs to enact such practices.
In addition to this update, we have more content from the Entries of the Den to share!
15th Anniversary: Jet Set Radio Future by Smilebit
15th Anniversary: Crash Bandicoot: The Huge Adventure by Vicarious Visions
15th Anniversary Games: Jan-March 2002 Honorable Mentions
Help spread the word!
Be sure to visit us at our GoFundMe page too! Click here to go there now!
