Gamestop 360 pre-orders

Just got a call from Gamestop HQ about my Xbox 360 pre-order I made in-store back in August. Apparently I shouldn’t expect my system to arrive before X-mas. I’m not doing the day one thing, so I guess it’s a last gen hurrah for me this year.

You could always get a refund and hit up Best Buy, Walmart, etc.? No reason for Gamestop to profit at your expense, after all.

You can always get your money back.

I don’t really get the whole idea some people have that GameStop “profits” from the money that is put down on deposit. Check out their SEC filings - it’s not like they’re making big bucks off of taking that money and depositing into a high-return bank account. About the most you can say is that it improves their cash flow to some extent, but the sum total of reservation deposits is a tiny fraction of the business they do on a daily basis.

You may be right, but on the other hand, why is it my job to care whether Gamestop is making money? I’m personally not a little po’ed about their bundle insanity, necessary or no. I’d frankly rather be Xbox-less forever than keep sucking it up for the greater corporate good. Yep, I have choices, but come on - what kind of choice is standing in line, zero degrees, for six hours to maybe get one of 30-40 Best Buy allocations?

Currently CostCo is considered the best shot for people without preorders. I believe you do have to buy a game with it (PGR3, last I heard), but if you have a membership, that’s where I’d go. Don’t executive members get in an hour earlier than the rabble, too?

Got the same call too, and I reserved one on aug 8th. Going to a concert that night, so at best I will get there an hour before midnight, which in my area is probably not enough time. This crap is always sold out in my area… to many damn geeks. Will still try, but uh, thank god for so many good games being out now. If I wasn’t such an HDTV freak I doubt I would care.

Ain’t it the truth. If I didn’t have one, I wouldn’t bother with the 360 at all yet. But King Kong, CoD, and (maybe) Perfect Dark at 720p…

It’s called “interest.”

The bundles are website only, never in the stores.

I don’t get the anti-corporate attitude. If that’s what you truly think then why would you ever buy a video game or system? A corporation benefits every time, whether it was the corporation that made it, the corporation that published it, or the corporation that sold it.

It’s called “interest.”[/quote]

Seriously, we have a law in the US that says corporations have to publish their books every quarter. The SEC is the gov’t agency that monitors this. They put all the books up on their website. Go look at that for GameStop and then come back and tell me how much interest they are earning off of reservations. I’ll save you the time - it’s nothing.

It’s called “interest.”[/quote]

Seriously, we have a law in the US that says corporations have to publish their books every quarter. The SEC is the gov’t agency that monitors this. They put all the books up on their website. Go look at that for GameStop and then come back and tell me how much interest they are earning off of reservations. I’ll save you the time - it’s nothing.[/quote]

Funny, they’ve really been hitting the preorder thing hard this year because of the XBox 360, and they have $108k more in interest income for the 13 weeks leading up to July 31st than they did last year, for a 21% increase in interest income. Note that this is INTEREST INCOME, in addition to the profit they already get from the sales.

Note that this is just shy of 1% of their total pre-tax income. All interest is 3% of their total pre-tax income. Now of course some of their interest is going to be from other holdings, and it’s not a huge part of their total income, but it’s not “nothing” by any stretch of the imagination.

The best part is that they get 2-3 more months float on the preorders of people that got hosed by the 360 shortages.

(edited to clarify 13 weeks pre july 31st)

Maybe I don’t know how exactly what they do with the money they took in for preorders prior to the actual product being delivered to the customers, but I’m pretty sure my $50 is $50. I don’t see how they’re making profit off of it sitting there waiting for my 360 to come in.

Anyway, I got the same call from Gametop today. This of course was after calling a few stores earlier today trying to find any Gamestop employee who knew how the preorder thing was going to work. The store I preordered at was allocated 18 Xbox 360’s for launch day. I preordered in early August and I’m not in the first shipment. :? I’m not going to break my back trying to fight the crowds anywhere else, so I’ll just wait.

Does everyone really think 360s are going to be in short supply? I heard the same thing about the PSP, and there were stacks of them in every department store I went to from Ottawa to upstate NY at launch and in the weeks immediately afterward.

I think it’s overblown and that people will be able to get them day one, but it’ll just be more irritating.

This looks like it’s going to be much worse then the PSP launch. Rumor is the US is getting an allocation of 700k units on launch day. The key is how much trickles in after that.

I’m hoping that the ‘after x-mas’ announcement is a worst case scenario since I preordered so damn early (right when they announced the prices). But whatever. I’ve decided not to do the campout thing. Honestly after Oblivion’s delay there really aren’t any launch games I’m crazy about and I AM shopping for an HDTV but I don’t expect to have it until December.

[size=7]ONE BILLION![/size]

I got my call from EB the other day. It looks like mine won’t be in until a couple of weeks later. Will I still care two weeks later when I have my head down, playing Civ 4?

I’m frankly being extraordinarily conservative in my corporate criticism for the sake of not ticking off the apologists.

My point would just be, can you name a single consumer that’s actually celebrating the Gamestop bundle approach (as opposed to grudgingly accepting the lack of choice)? Gamestop isn’t evil, but you know, are we going to have the discussion where we also try to excuse what the oil companies just got away with this past quarter? Where’s the check and balance system? Oh yeah, that’s us, which I guess means: do whatever you want Gamestop, we’ll just assume you’re making a sensible profit and would never try to abuse your position by forcing consumers to buy electronics in a way the OEM didn’t necessarily intend. Yeah, I know, close it and go stand in line at Walmart. Democracy! :)

Because they stick it in a bank, and earn interest on it?

BTW I’m not saying it’s a bad thing, but Gamestop and EB don’t do preorders because it’s convenient for you, they do it because it gives them money they can put to use before they have to deliver an actual product.

Yeah… those evil evil corporate whores and their totally unfair attempts to screw the consumer by realizing that demand is likely to far outstrip supply and therefore trying to ensure they move the games that they most likely have to buy in proportion to consoles to get the consoles in the first place.

You could, y’know, accept that the premium of buying games you don’t want is the opportunity cost attached to making sure you get an XBox 360 near release and either accept it or decide you can wait. I guarantee if everyone actually felt so put upon by having to buy bundles that they refused to get hit for the excess premium on principle, bundles would quickly disappear.