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NEWS > GAMES > GAMESTOP TO PROVIDE LOANS FOR PREORDERS
GAMESTOP TO PROVIDE LOANS FOR PREORDERS
June 24 2008
Grapevine, TX – Gamestop Corp has announced a new money lending program designed around giving their customers more flexibility when purchasing new release titles. Gamestop Blend (a combination of the words borrow and lend) will allow customers to take out a loan at their local Gamestop location and put it towards future purchases.
“This is a very exciting program that will allow us to offer not only an incredible value to our customers, but will also ensure that they are able to purchase the all hottest new release titles with the utmost convenience,” said R. Richard Fontaine, Chairman and Chief Executive Officer. “With the current economic climate, this allows our customers to conserve their hard earned dollars for the essentials, while still keeping up with the newest and hottest game releases.”
Details of the project will be made available over the next few weeks. “Blend” will be rolled out in 1200 stores in mid-July, with a full roll out in all U.S. Gamestop locations before the start of the busy Christmas season.
“With the many great new release titles due this year this couldn’t come at a better time,” continued Fontaine. “Gears of War 2, Ghostbusters, Resident Evil 5, and Star Wars: The Force Unleashed are all due this year, a year sure to be yet another blockbuster year for the industry and we are proud to be able to offer this terrific opportunity for our customers.”
Analyst predictions were mixed but intrigued. Michael Pachter of Wedbush Morgan for one is excited about the possibilities.
“It will be interesting to see how the program is adopted in those pilot stores. There is certainly a great upside to the concept and the idea of going deeper and deeper into debt in order to acquire luxury items is something to which the American public is certainly accustomed. I’m cautious but optimistic.”
Polled outside a local Gamestop location, the overwhelming response from consumers has also been positive, with more than a few ready to sign up already.
“I’m down man. Whatever gets me my games on day one, I’m down,” said a customer who preferred not to be identified.
Douglas Havermore, Games Correspondent
NEWS > GAMES > GAMESTOP TO PROVIDE LOANS FOR PREORDERS
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