Efforts by GameStop to drum up business — through the phenomenon that was Pokemon Go and diversifying its portfolio by acquiring more than 500 new AT&T dealer stores — were no match for consumers’ changing preference for digital downloads over physical copies. To that end, the struggling retailer will close at least 150 stores by the end of the year. [More]
As Wells Fargo rather spectacularly demonstrated in recent months, putting too much pressure on employees to notch up a certain kind of sale can lead to a perverse incentive: Employees who need to keep their jobs may try increasingly underhanded things just to meet an impossible metric. This week, a report suggests that the latest set of employees who might be lying through their face to you just to keep their jobs are the ones selling video games. [More]
For the last half-decade or so, the beginning of Black Friday has gradually crept back, with mainstream American retailers giving the shopping holiday precedence over the actual holiday, opening on Thanksgiving Day. Then the trend reversed, as retailers came to realize that they could harvest good publicity by staying closed on the holiday and making sure that the public knows it. We’re guessing that they didn’t earn enough money to make opening on the holiday worth their while. [More]
Unexpected freebies that come with a purchase are one thing, but bags filled with meth stashed in a video game case, well, that’s a case for law enforcement. [More]
Realizing that the business of selling consoles and physical copies of new and used games in malls won’t last forever, GameStop has been working to diversify its business, acquiring related businesses ranging from third-party Apple store chain Simply Mac to pop culture purveyor ThinkGeek. The company is now starting a new venture even more closely related to its core business: GameTrust, which will publish games from outside developers, and distribute them to its customers. [More]
GameStop’s executives predict that three years from now, at least half of the company’s revenues will come from things that aren’t games. Should they think about changing their name, then? Nah, CEO Paul Raines said in an interview this week: they could change their name in the future, but for now games are still what they’re about. Like most things in life, though, that could change in the future. [More]
Most retailers still have a bit of a brick wall between their online and offline presences, and it can create challenges for consumers. To fight that, GameStop has decided to bring a bit of the 21st century to their operation, with a nationwide “ship from store” program.
We’ve been hearing about the Sony VR since it was dubbed “Project Morpheus,” but as much as the tech giant loves to show it off, Sony has yet to give a firm release window for the virtual reality headset. However, GameStop CEO Paul Raines tipped his cards on that schedule during an interview this morning. [More]
With the bulk of the holiday celebrations having come and gone, you might be sitting around the dried-out Christmas tree counting up all those random gift cards you received. While you appreciate the generosity of your friends and family, you just don’t have any desire to make a purchase with said cards. To that end, a number of retailers are willing to offer you a trade; joining the ranks of Walmart, GameStop, and Coinstar this year is Target. [More]
If you wanted to get away from your family this Thanksgiving and buy video games and/or video game accessories, you’ll have to do it somewhere other than GameStop. The chain announced today that it will not be open on Nov. 26. [More]
Why would a store want to sell you something that could mean you will not need to walk through its doors again? We don’t know, but GameStop is doing it anyway: the brick-and-mortar retailer will be selling Steam hardware next month — game consoles that are designed for digital video games purchased on the Steam marketplace… the exact kind of games you won’t find at GameStop.
With consumers abandoning their stacks of CDs, DVDs and video games in favor of digital downloads that can easily be viewer or played for any number of devices, GameStop’s latest attempt to keep its bread-and-butter — the sale of trade-ins — goes against the no-disc trend: only selling game console bundles that include physical discs. [More]
Earlier this summer, GameStop acquired ThinkGeek in a $140 million transaction that observers thought might put great geeky collectibles inside GameStop stores. While the two companies have done that, there’s another phase to their plan: later this month, the first offline ThinkGeek store will open on September 25 at the Florida Mall in Orlando. [More]
Remember the long, long-ago of, er, just last week when we thought Hot Topic was planning to buy the parent company of online specialty retailer ThinkGeek? Well, now they’re not. A mysterious new suitor showed up just a few days later, and it appears they have the better bid. And so, Geeknet today announced that their brief fling with Hot Topic is over, and they will be joining up with GameStop instead.
Nostalgia is all well and good, but it won’t change that dust-coated Nintendo you’ve had sitting around into anything useful. GameStop, on the other hand, says it wants to do just that with the pilot of a new “retro” consoles, games and accessories trade-in program in two cities starting April 25.
While GameStop brazenly believes it can weather competition in the used game business from bigger retail competition like Walmart, the company faces a more deadly foe in a future marketplace where most games are downloaded. Currently, there are no industry-supported methods for reselling digital games, but GameStop says it will have to happen — not just for its bottom line, but so that game publishers can continue charging top dollar. [More]
There are currently around 6,000 GameStop locations, meaning most people don’t have to drive very far to trade in a used game. But how will the company weather the two storm fronts of increased competition from major retailers and the shift toward digital downloads of games? [More]