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Gamestop Advertising a Layaway Program for the Xbox One, PS4 Doesn’t Have One

Karam Elahi writes: "Gamestop is advertising a very interesting promotion. They’re advertising a layaway program for the Xbox One, but not the PlayStation 4. The Xbox One’s $500 price tag just might be enough to justify such a promotion, seeing as Gamestop probably drew a fine line between $400 and $500, on what could be considered affordable for a game console in one lump payment."

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FlameHawk871d ago TrollingShowReplies(1)
dedicatedtogamers871d ago

Quick question: isn't layaway something where you put money down, they "reserve" it for you, and then you can pick it up once you've paid it off?

If that is the case, this does not make sense. X1 is widely available. It would actually make more sense to do this for PS4, which is having trouble staying in stock.

quaneylfc871d ago

It's for people that can't afford to pay all at once, stock has nothing to do with it.

TomShoe871d ago (Edited 871d ago )

I don't really see much of a point in putting an XBO on layaway. There seems to be ample supply.

@Rockstar

Again, why would you want to pay it in payments when you could just save up the $500 yourself? It seems more like a self-control thing than anything.

Rockstar871d ago

Layaway has zero to do with supply as quaneylfc has already stated

Tru_Blu871d ago

Tom you answered yourself. It's for people who don't have enough self control to save up the money on their own.

FamilyGuy871d ago

Layaway is for people with bad credit.
Instead of paying back a credit card or not wanting to pay interest associated with using one people can make payments.

It's dumb because you could just cancel st any time and get your money back. Not being able to save money when it's readily on hand is a problem for some people though.

GameStop doesn't have PS4s readily in supply to offer a layaway program. You actually have to have the device and hold it for the customer because they could walk in at any moment with the money to pay off the purchase. GameStop isn't going to hold PS4s for that when they can barely keep them in stock.

lolCHILLbro871d ago

Guys guys guys, wont people buy the console they want regardless? lets try not be insecure everyone

quaneylfc871d ago

it isn't there for people with money ready at hand, the people with money ready at hand shouldn't be using it. The bastards!

SilentNegotiator871d ago (Edited 871d ago )

What stops them from just saving up the money, then, piggy bank style? Either way, you don't get the product until you have acquired all of the money and paid for it.

Bigpappy871d ago

Correct. Layaway has zero to do with supply. Its to make it affordable

Sitdown871d ago

@Familyguy
If layaway is just for people with bad credit, why did Walmart do away with it? Can't believe you made such a sweeping inaccurate generalization. Plenty of people use layaway because they want to reserve a product while not necessarily needing it right away.... especially around Christmas.

harrisk954870d ago

No... it is to try and spur some XB1 sales... they are taking up valuable shelf space. I was in Best Buy yesterday and they had an employee making announcements outside the store that they had no PS4s. When I asked why, he told me that the PS4 is all that people are asking for, but they had more than a dozen XB1s and that the XB1 has never been out of stock. This is in Ft. Lauderdale, Florida... A pretty huge market!

LordMaim870d ago

Stock has everything to do with it. Gamestop isn't going to sit on PS4s while people put down money $5 at a time and can cancel whenever they want, meanwhile they're sold out everywhere and people are crowding prebook lists. Hell they won't hold your prebooked system for longer than 24 hours, why would they hold a PS4 that you haven't even finished paying for?

They can do this for Xbox One because they aren't having trouble getting additional stock, so it doesn't represent a lost sale for them.

mewhy32870d ago TrollingShow
webeblazing870d ago

This article is showing how many young people are on this site. This will increase the sales of xbone but I Dont get why they Dont do it for all consoles. This will get their customers to buy more than one console

Rockstar870d ago

@ TomShoe

I agree 100%, I wouldn't use layaway myself, I would just throw money in a jar until I had enough to but what I wanted. That's what I do for all my gaming purchases. But it is what it is.

+ Show (11) more repliesLast reply 870d ago
Transporter47871d ago

Layaway is where lets say you want a TV but you can't afford it, you can put payments for it until its fully paid and once it is you take it home with you.

Kenshin_BATT0USAI871d ago

I don't see why people are finding this so hard to grasp. Frankly I prefer stuff like this. I always like having $300-500 on hand at all times in case a raining day comes up. This, if anything helps with such a contingency.

Megaton871d ago TrollingShowReplies(4)
Eonjay871d ago

Obviously they are trying to move more units by reducing the upfront cost of the system into chunks. Its kinda like EsRam.

MethCupcakes870d ago

You dog.. This is why I come to N4G. Lmao

DoubleM70870d ago (Edited 870d ago )

Gamestop makes money off of you instantly that they can bankroll. The demand is their For the XB1, so this helps people into getting one. Funny I wonder why they didn't come up this plan when the PS3 was costing $599 bucks. I'm pretty sure the demand was their for the PS3 when it came out.... Think about it.

showtimefolks871d ago

FlameHawk

its amazing when you said something 1120% right yet be voted for trolling

MS great job make a weaker console
don't have a great service like psn-plus
much more improved controller(not granted xbox360 was that good but i feel like they have regressed with xbox controller. The sticks are so small)

$499 will be remembered for a long time. just like $599 for ps3

KingDadXVI871d ago

The layaway is designed for people who don't have credit and have difficulty saving the money themselves.

@showtimefolks

"MS great job make a weaker console"

Well, the weaker console seems to have more games and from what we have been seeing it is going to be at parity with the PS4 for resolution very shortly. Developers are already coming out and saying that 1080p is not going to be a problem with the new SDK coming out and their understanding of how to use the Esram improving.

"don't have a great service like psn-plus"

ROFL, I have both services and if you want to game online with a console Xbox Live Gold beats PSN+ hands down. Audio alone kills PSN+. Games with gold is only going to improve and you actually get to keep the game even if you don't renew your membership unlike PSN which only allows you to play the game while you have a membership.

"much more improved controller(not granted xbox360 was that good but i feel like they have regressed with xbox controller. The sticks are so small)"

I would have granted you that one a month ago but I have gotten used to the sticks now. The knurled rubber provides excellent grip too compared to the 360 controller. Everything else about the controller is an improvement. Admittedly not as big an improvement from the DS3 to DS4 but then you have to remember the DS3 was a total piece of shit. The biggest issue with the DS4 is the damn battery only lasts 5 hours. I get 30+ hours with my Xbox One controller and my rechargeable AA energizers.

MRMagoo123871d ago

@King

How is saving money at home in a jar any harder than saving at a store as credit ? you can get a refund any time you want and spend it , so there is no difference whats so ever.

lolCHILLbro871d ago

@showtime, have you tried the Xbox One controller? its definetly an improvement, also if i recall PSN was down or had issues multiple times since PS4 was released when XBL has been smooth as butter

No_Limit870d ago

"don't have a great service like psn-plus".

You just lost your credibility there, dude. Cough..PSN hack in 2011..cough.. which forced Sony to turn off the PlayStation Network and personally identifiable information from each of the 77 million accounts were stolen. The outage lasted 24 days

+ Show (1) more replyLast reply 870d ago
LeCreuset871d ago

"If that is the case, this does not make sense. X1 is widely available. It would actually make more sense to do this for PS4, which is having trouble staying in stock."

No, it wouldn't. The whole point of layaway is that you're reserving something by putting a portion of the payment down, so that it will be there when you make the full payment later. Why on Earth would Game Stop slow up PS4 sells by offering layaway for systems that are just going to be sold out shortly after they are stocked?

Oh_Yeah871d ago

They're tryna boost them sales in any which way, lol. I thought layaway was a thing of the past, I haven't seen many reatail stores offer it in a while.

AndrewLB871d ago

it's so the ghetto-folk can own an Xbone of their own rather than steal them from homes in the nicer part of town.

Back-to-Back870d ago

thats assuming they have a tv.

Gamer1982870d ago

They do it for those who cant afford it as they probably think (and wrongly) that's its not selling because its too expensive. Rather than the fact is MORE expensive.

mark3214uk870d ago

its because the xb1 isnt selling very well so a way of getting rid of the stock there offering a layaway

wouldnt make sense to do with ps4 as they sell as quick as they come in

jacksjus870d ago

I agree 100%. Layaway is for holding purposes while you pay it off. If the XOne is available then this makes no sense. Save up and just go and get it when you have it all.

Blaze929870d ago (Edited 870d ago )

you people's logic make me sick. How is this so hard to understand?

Lawaway: I want that, but I can't afford it right now. If I pay you, can you hold it for me until I pay it all off? If I try to save myself, I'll never be able to - personal issues.

Store: Sure.

How is this an attempt to move more Xbox One's though because "it isn't selling well"? December NPD seems to suggest otherwise.

If anything, this would be COUNTER productive as people will just put Xbox One's on lawaway and either:

never pay it off
cancel it, thus putting that XB1 back on the shelf instead of it being sold as it was intended.

Why would they do it for the PS4 when they can't even keep any in stock? Hey let me let this guy do layaway for who knows how many months vs just putting the PS4 on the shelf and have to guaranteed to sell today. They have the Xbox One stock do allow so. They don't for PS4.

Is Layaway an American thing? Is that why some of you don't get it?

Or is it a classism thing? Because let's be honest, layaway wasn't intended for everyone. People who need layaway know exactly who they are. I hate to use the term poor because what is poor? But they might not have the funds to drop $500 at one time poor.

3-4-5870d ago

Sony fans had no problem dishing out $700 for the PS3.

Maybe they think Sony fans have a bit more money and are more likely to buy "up front" in FULL at the time of purchase than XB1's users would.

Might have to do with past statistics or we may not know the whole story.

Back-to-Back870d ago

When your target demograph is <14 yrs old, its hard to sell a $499 console.

corvusmd870d ago (Edited 870d ago )

@dedicated Like Quaneylfc stated, it has nothing to do with stock, that being said, please stop trolling every XB1 article, it looks pathetic. I understand that every area is different, but where I live (Northern California) it is the exact opposite in that I don't see any places that have XB1's in store for more than a day or two (I typically only see online bundles pop up here or there), yet Best Buy's, all the gamestops in my area, etc have had PS4's in store for the last 2 weeks. It may be different where you live, I'm just pointing out that it's not safe to assume it's the same every where.

@back to back...you're right... <14 year old enter into contracts with stores all the time, way to think that one out.

+ Show (11) more repliesLast reply 870d ago
Avalanche871d ago

They dont have a layaway program for ps4 because they dont have a big allotment of systems in the warehouse. Gamestop has A TON of XB1 systems in the warehouse so they are doing this to try and move some xbox one because they are not selling well.

I work there...i know whats going on.

CrossingEden871d ago

You do realize that your one small gamestop does not equate to the hundreds of stores that gamestop have.

Avalanche869d ago

yes it does. we are just one store, but its no secret that the gamestop warehouse has thousands of unsold units. Gamestop doesnt do this out of the goodness of there hearts to offer layaway for people who cant afford to plop down $500 at one time. this is COMPANY WIDE marketing so im not sure where your "Dude you are one store, you dont know what you are talking about" comment came from.

Gamestop wants guaranteed sales. Even though Layaway doesnt guarantee a sale for GS, it gives the consumer more incentive to pic it up since they say to themselves "Hmm i already payed off half of it with the trade ins i just did, i can get the other $250 from my tax returns".

its business 101. expect Gamestop to roll out a marketing program telling people to use there tax money for video games. especially saying "Hey now you can afford that expensive system you could 4months ago"

theWB27871d ago (Edited 871d ago )

I'm not saying you're wrong, but how would this help since they don't impose a time limit to get it out of layaway? It's not tied to the X1 so you can still use that money towards a different purchase AND it's refundable without penalty.
http://www.gamestop.com/gs/...

You work there..but you still have limited knowledge on different warehouses and store numbers.

Nothing about this or what you said supports Gamestop having a ton of X1's in storage. Couldn't you already give Gamestop money to put towards something?

ShadowKingx870d ago

actually if one gamestop is doing, more than likely they all are, layaway usually does not come around at gamestop, til October or November for Christmas time. if it was just one or two gamestops, then they would have them just ship to other location low on stock.

Avalanche869d ago

we offer to hold it in layaway until the middle of April. and like i said above. they are trying to let people pay off the system little by little with Game trade ins, System trade in, and our favorite ipod/iphone trades.
its easier for the customer, and its better for gamestop to sell them via layaway then having them sit in the backroom for months.

r2oB871d ago

@ CrossingEden and theWB27

I do not work at Gamestop, so I do not know what inventory tracking system they use. But it is not uncommon for companies to have a system that allows any of their locations to view stock of other locations and centralized warehouses. Where I work, I can check the inventory of any location as well as the national warehouse that everything is shipped from. If Gamestop has a similar system, then he may be able to put location IDs to check inventory levels.

I am not agreeing or disagreeing with his comment, but both of you seem to be disregarding his statement without even knowing what he may or may not have access to.

LeCreuset871d ago

I have gone on some journeys based on one Game Stop looking up availability of a product at another Game Stop.

MRMagoo123871d ago

r2oB is correct EBgames which is the Australian Gamestop can check stock in any store on there till pc its all networked up.

LAWSON72871d ago (Edited 871d ago )

I never understood layaway, is it so difficult to just take $50 or something and put it in safe keeping and save it up? The only time it makes sense is when there is a limited edition or something that maybe stop being sold soon

As for why no PS4 layaway. the system is in short stock and instead of having people who may not pay full amount or in a fair amount of time they can easily sell them instantly. Meanwhile Xbone is in full supply and the demand is not huge driving the stock down so they can offer a different method of payment.

Audiggity871d ago

Yeah, it is difficult for people who have a tiny bit of discipline to get it. But... we live in a world where there are "prepaid credit cards". Not just for kids' allowances either.

People really just have a hard time not spending the money they have instantly.

LeCreuset871d ago

With the prepaid credit cards, some people just have bad credit, and having a credit card is more convenient, or even required, in a lot of cases.

DeadMansHand871d ago

I've worked retail before and any place that had layaway was not for "undisciplined people". The end goal is to entice someone to commit to a purchase that normally wouldn't buy the unit by allowing them to put it on hold with a minimal amount of money out of pocket. In theory, once someone has a vested interest in the unit then they will come back later to pay it off. This nets the folks who might normally shunned away from a higher priced item because coughing up 500 bucks at once was too much but now they put 40 towards it and just smaller amounts later.

It's basically a psychological ploy.

Kenshin_BATT0USAI871d ago

"I never understood layaway, is it so difficult to just take $50 or something and put it in safe keeping and save it up?"

You pretty much described what it is. It's an artificial saving system to purchase something. What's the difference between putting it in a safe place or giving it to the store directly? Nothing really if you plan on getting it regardless.

jacksjus870d ago

Layaway if mostly for the underprivileged. Let's say you want a hot item that will sell out but you can't afford to pay for it at the time. So what layaway allows you to do is place a holding fee on the item and pay the full price by an agreed upon deadline. It only makes sense for something with either limited availability or a can't miss sells price at the time.

Sci0n870d ago

layway is still a good desperate strategy a store can utilize to get something pricy that people are overlooking to sell. Its better for game stop to offer that and gain a few potetial customers then for them to have to keep shipping them back to the warehouse do to being over stocked. It will keep getting worst and X1 fanboys will deny until the cows come home.

+ Show (2) more repliesLast reply 870d ago
TheFallenAngel871d ago OffTopicShow