7-Eleven(R) Franchise is a Game-Saver: Value Video Games Coming to a Store Near You
Retailer Ramps up Home Entertainment Section with Games Under $20
DALLAS, April 19 // PRNewswire // -- 7-Eleven Inc., which began selling major new-release video games just over a year ago, now offers gamers a way to save a little green.
Available in 3,000 U.S. 7-Eleven® stores, the new "Gamers Factory" selection of pre-owned games features the hottest titles at a fraction of their original retail price. And for the first time, the retailer also will carry games for handheld devices in addition to console systems. All games are priced under $20 at $9.99, $14.99 or $19.99.
"Most of our game titles will be best-sellers that were released in the previous six months to a year," said Michael Jester, 7-Eleven category manager for home entertainment. "The concept was tested in 600 stores last November, and the universally enthusiastic response was a strong indicator that value-priced video games would be a hit with our customers nationwide."
While currently available in half of the 7-Eleven stores franchised or operated in the U.S., Jester said the company is adding the new value video game section to approximately 100 stores each week and hopes to have it in most stores before the end of the year.
Stores will carry up to 96 games for Sony PlayStation 2 and 3, Xbox 360 and Nintendo Wii, as well as Nintendo DS and Sony PSP handheld devices. Pricing will be competitive and determined by the game's original cost, how long the game has been available and its popularity.
7-Eleven has partnered with Game Trading Technologies, Inc. (OTC Bulletin Board: GMTD, "GTT"), a publicly-traded, industry leading game-trading service provider that acquires the games from other retailers and manufacturers and then tests them before repackaging and distributing to 7-Eleven stores. All games are guaranteed to run on their respective gaming systems.
According to Jester, 60 percent of U.S. households have some type of video game system. "When you talk about Slurpee customers, that number skyrockets," he said. "We're not a gaming destination … yet. Most of our sales will be impulse buys – teens grabbing a Big Gulp® or a Slurpee® drink after class might be inclined to buy one to play that afternoon, younger kids who talk their parents into purchasing, and even some of those parents for themselves."
The video game section ramps up 7-Eleven stores' home entertainment offerings that already include new and previously viewed DVD movies as well as new CD compilations of favorite artists.
"7-Eleven's franchisees have been very receptive to our program---they understand the unique opportunity that value-priced video games offer their customers," said Todd Hays, president and CEO of Game Trading Technologies. "We have seen demand for these games increase from both the consumer and the retailer, creating a new marketplace that allows us to offer excellent value."
GTT, a company focused on technology, supply and services in the fast-growing, pre-owned video game market, also provides regular replenishment of 7-Eleven stores to ensure that they remain well stocked with a broad selection of games at value prices.
"We partnered with GTT because of their expertise as a third-party provider of video games and the terrific selection they offer to our customers," Jester said. "More consumers are searching for convenient ways to stretch their entertainment dollar in this challenging economy. The selection of 7-Eleven home entertainment products does just that, with the added convenience of snacks and beverages for a fun-for-the-whole-family evening in."
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses close to 8,200 7-Eleven® stores in North America. Globally, 7-Eleven operates, franchises or licenses more than 38,000 stores in 16 countries. During 2008, 7-Eleven stores worldwide generated total sales of more than $53.7 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #3 spot on Entrepreneur magazine's Franchise 500 list for 2009, #3 in Forbes magazine's Top 20 Franchises to Start, #3 among Top 100 Global Franchises by Franchise Direct, #3 in Store Growth by Convenience Store News, #2 in Franchise Times Top 200 Franchise Companies and #29 among Top 100 Chains in Food Service. In addition, Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven recently was selected by three diversity publications as a company offering the best career and franchisee opportunities. 7-Eleven is franchising its stores in the U.S. and is expanding through organic growth, acquisitions and its Business Conversion Program. In addition, the company received the 2009 Shopper-Centric Marketing Innovation from Symphony IRI and the 2010 Retailer of the Year award from PL Buyer for the company's private-label brand program.
About Game Trading Technologies, Inc.
Founded in 2003 and headquartered in Hunt Valley, MD, Game Trading Technologies, Inc. is a leading video game trading services provider focused on valuation, procurement, refurbishment, and redistribution of pre-owned video games. Game Trading Technologies, Inc. currently offers unique services, supported by innovative technologies to an array of national firms, allowing them to better serve customers who want to trade their games for store credit or purchase pre-owned games. The foundation of most of these relationships is Game Trading Technologies, Inc.'s proprietary game trading database, which updates values on more than 10,000 video games and consoles on a daily basis according to market conditions. Game Trading Technologies, Inc. shares are traded on the OTCBB under the symbol 'GMTD'.
SOURCE 7-Eleven, Inc.