PS3 to drive Gamestop sales in 2008, says analyst
Sony can look forward to a successful holiday season this year and even well into 2008. With that being said, the PlayStation 3 should see considerable growth. However, Sony might not be the only one benefiting from the next-generation console.
Gamestop, the worldwide leader in videogame retail could become the one who benefits greatly from the success of the PlayStation 3 in 2008; Wedbush Morgan analyst Michael Pachter believes that with the help of the PS3 exclusives in early 2008, GamesStop’s shares should see significant growth.
”We also expect a 20% comp in the January 2008 quarter due to the introduction of a new $399 PS3, which should drive a significant amount of traffic GameStop's way this holiday," Pachter commented.
Pachter believes that the new USD 399 40GB PlayStation 3 will be enough to warrant more sales for GameStop but it doesn’t start there. In 2008, there will be a significant amount of PS3 exclusives, which could further more not only drive sales for Sony, but for GameStop as well.
"The shift of GTA IV along with other top titles expected next year (such as Gran Turismo HD, Metal Gear Solid 4, LittleBigPlanet, and Final Fantasy XIII) should provide an opportunity for GameStop to deliver double-digit comps through the April 2008 quarter, and we are revising our April comp estimate to 13%, reflecting very high expected software sales growth during that quarter."
As you may see, all of those games mentioned (except GTA IV which is multi-platform) are PS3 exclusives. Three of those 4 games are well known franchises and gamers will instantly recognize them. While the Xbox 360 will slow down a bit after Mass Effect, the PlayStation 3 will deliver well into 2008 and beyond.
I know a lot of people would say that the employees at GameStop are huge PS3 haters, however, after they see the money that the PS3 is making for them, their stance will expectantly change.