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In that deep dark world of video game retailers our next guest has been making it a priority to become your gaming destination of choice and despite a weakened economy in a crowded playing field.
He's determined to make sure it stays that way this holiday season is it worn -- joining me -- caught -- Fox Business exclusive from Dallas Texas.
Is all -- as the chief operating officer GameStop I am glad you're back on a day like today as we really kicked into high gear all.
For the holiday season to -- -- -- -- and how is the season shaping up for you guys that can't stop.
Hi -- it's so great to be with you were excited beyond oh of course in terms of disclosures and so forth where are quiet period but.
We're excited about running our strategy -- -- holiday period you know our strategy is is a simple one -- the world's largest.
Video game retailer we want to have the best values of 2500 games for under twenty dollars.
The broadest and deepest assortment.
The very best knowledgeable associates and of course are the most locations to serve consumers around you so we're working on that in and trying hard to be the destination for consumers this season.
Argue are you stuck at the moment -- suit with what I -- to what I think is a very generous offer your 2500 games for under twenty dollars.
Can you be -- can you switch things around because right now Wal-Mart has cut its prices and I'm just wondering if you guys aren't sitting in.
In rooms trying to figure out what do we do to beat out Wal-Mart for people's business.
When you know -- this time -- all of our competitors are -- promotional.
So we have a strategy that we execute every year.
And you know we believe the buy sell trade model is the very best value proposition.
In all of video gaming I mean.
How many retailers could put 700 million dollars back in the hands of consumers like we did last year you know we by consumers old games that and they use that currency eco minded and so for us.
We think it's all about change in the rules and those rules are around buy sell trade and we think we're uniquely positioned on that.
Do you guys really appreciate say for example a game what Call of Duty 4 I mean I'm I'm on mom subways -- buses people are talking about this game.
And I -- which wondering how much does.
Sort of the zeitgeist of a great game affect your sales -- people come and say I have to have about.
Yeah you know -- modern warfare two is a fabulous stand by just finished it last week it's it's unbelievable that you know what we find is.
The video game enthusiast when there's a hot new title they come out in droves.
Assassin's creed two was a great game left for dead two even Super Mario which is we have a new Super Mario out this -- it brings out.
Those core gamers but don't forget.
40% of video game consumers today are females and the average age is around 35 years old so.
There's lots of genres of music education.
There's lots of things out there for video game customers that we see.
They continue to really enjoy video gaming as a great value.
With sixty to eighty hours of game play for a typical game.
We were out of electronic arts and Silicon Valley and of course we sport is very big for them now and that brings in a big female audience Sims is huge for them.
There's Matt and that continues to be a big rainmaker and of course Tiger Woods we talked about that extensively considering all of tiger's troubles as of late.
But you just talked about the core gamers vs the casual gamer.
Who's coming out this holiday season.
Well you know we're we certainly see we certainly see consumers.
Shopping in all areas the the titles the -- sequels that we mentioned.
Are really bringing folks out but we know that -- holiday we will be seeing a lot of gift givers.
And those gift givers are looking for value.
We see that.
The console price reductions that we saw earlier in the year are resonating with consumers and again while those consumers -- currency so we're focused on both.
Buying back those old games creating trades and also.
Put -- that currency back in their hands so they go buy new titles.
It's still it's still excited about what we see polyps so tough for people -- -- they've become such Smart consumers now I am very interested in watching I call it be squeezing that the tube of toothpaste all the way down to the bottom are.
Turning the shampoo bottle upside down to get that last quarter of an inch.
So the behavior I'm sure benefits you considering you do a lot of used game business.
Which is now the bigger part for you -- -- the used games at the new games.
Well and -- -- -- release we have we outlined growth in those categories and and they all group reviews -- -- well for us last quarter and has really grown well all year.
You know it's a simple thing -- consumers need value.
If your house is like mine with some kids in the household and there's some old games under the couch consumers -- bring in those games there because they need that currency so.
That value equation is one that has worked for a long time for us and we think changes the rules in terms of value and promotions.
You had -- sales up about 12% I believe for the third quarter -- -- match -- -- -- -- -- I'm not asking for total specifics but how good does it look right now for this quarter.
Well you know as I say we're -- -- quiet period and we did -- some guidance back to the third quarter but I would say that.
You know what we're focused on is -- -- there for that consumer you know every year holiday comes later.
And we think that if you're a last minute shopper.
And you're looking for for a video game hardware software.
GameStop is committed to -- the products you're looking for we will be there right up until the very last minute for -- shot.
And we'll have the broadest inventory in the most selection and the best value.
I held out -- for so long and and now we're idea aside family but I'm one of these mothers -- says -- never -- bringing in a PlayStation or are we or Microsoft Xbox.
Let's see if I can hold out but thank you vacuum I've got -- -- you.
Well well it's good to see it does make sure you get -- -- for the DS it's a fabulous game ripple -- -- of course.
Scribble -- is a great game it's kind of kind of a not well -- -- be great for the kids.
And of course -- whatever you need come on down GameStop on -- you get the right console the right game.
I am buying that's you perfect way to do it IQ I've become -- upside down shampoo bottle type of squeezing out the left Carter and it's Paul nice to see you good luck you will be watching -- very closely.
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