Video Games Are Cheapest On Monday According To Research Data
Author: William Usher
published: 2012-09-06 15:10:47
Jeff Nobbs from Extrabux provided some interesting insight on buying habits and marketing trends when it comes to purchasing goods online. He also breaks down why it's cheaper to buy video games, accessories and consoles on a Monday as opposed to buying products on a Friday, where you could be paying up to 15% more.
The data comes courtesy of a brief research packet called “Best Days of the Week to Shop Online”. As indicated in the chart below, according to the data most new games available online are estimated total out at $67.17 where-as those same games will go for $70.19 by the end of the week.
If it seems like bollocks, think again. According to Forrester Research analyst and leading ecommerce expert Sucharita Mulpuru...
“Retailers recognize that early in the week is when there is the most competition to capture the attention of consumers, and this competition results in lower prices for consumers. Fridays tend to be light online shopping days, so there isn’t as much competition to attract consumers and as a result prices aren’t as low.”
We know that most big releases from major, public traded corporations release at retail on Tuesdays in North America to make the most of the fiscal week and maximize the margins for potential first week sales, but it's interesting to note that since games release on a Tuesday and the best time to buy them is on a Monday, first-day adopters would actually seem to benefit more from being second-week adopters.
According to Nobbs, there's more to it than just estimating price fluctuations, there's an actual methodology to the pricing, stating that...
On weekends, when employees in charge of monitoring prices are off work, computer algorithms actually take over most pricing decisions. Many major online electronics retailers have their own pricing algorithms and these programs “compete” with each other for lower prices.
I'm sure most big publishers would hate for gamers to adopt this kind of scrutiny when purchasing games because realistically, in the retail chain market, one week is the difference between a new game sale and a used game sale.
Some gamers who wait just one week are not only potentially getting the game, accessory or console cheaper by using Nobbs' method of purchasing over the weekend, but there's also the likelihood that a used version of that game will also already be available. Combining those kind of purchasing techniques together might save you a few extra bucks if you plan on being a first-adopter for a highly anticipated game, accessory or home entertainment console.
The data comes courtesy of Extrabux.com.
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