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GameStop stock collapses after abandoning potential sale. Price lowest since 2005
- Thread starter Benji
- Start date
Ah Office Depot did that same "threaten your job" bullshit too, but they didn't stop there:
1) They made us come in every Sunday morning (before the store opened) for "training" to sell protection plans.
2) We used to get a flat 10% commission for protection plans, then they eliminated our comission altogether, because fuck the employees.
Most online websites (Amazon, Target, etc.) will also ask you about a protection plan before you check-out. For example, here's a screenshot I just took on the Amazon app for a printer:
This would sick, because although I don't subscribe to the magazine, I enjoy the podcast and YouTube content.
The optional opt-in on Amazon is nothing like the in-store F2F pressure of buying more stuff than you actually intended. It's not just Gamestop and it's not just US retail, and it really sucks when you want to quickly buy something and the staff bother you with a milllion questions like "do you want X? do you want Y?". My understanding is that Gamestop were even worse than the average retail store where staff would actually obstruct you from buying anything new (games or hardware) just to hit their quotas.Ah Office Depot did that same "threaten your job" bullshit too, but they didn't stop there:
1) They made us come in every Sunday morning (before the store opened) for "training" to sell protection plans.
2) We used to get a flat 10% commission for protection plans, then they eliminated our comission altogether, because fuck the employees.
Most online websites (Amazon, Target, etc.) will also ask you about a protection plan before you check-out. For example, here's a screenshot I just took on the Amazon app for a printer:
Stock hit a new low today. Bank of America analyst expecting physical sales EBIT to reach "$331 million and nearly breakeven in 2021."
Funco land was like Disney land for me and my bro back in the day. I remember the snes section and they had a newspaper type list of all games and prices. So cool to browse.
I suppose gamestop is a modern version but gs has a different vibe now so I dont see them the same way.
As someone who isn't as averse to human interaction as others seem to be, the GameStop off the highway on my way home from work is by far the quickest, easiest, most reliable way for me to acquire a physical copy of a new game. It would be a bummer if it disappeared. Hopefully the company finds a way to adapt, improve and survive.
Gamestop's death feels inevitable which sucks because I didn't realize they fully owned Game Informer. The whole GI Crew and the podcast + cover stories is going to be sorely missed when GameStop's poor business practices bring everything down.
I'm really hoping they figure out a way to hang in there. I'd hate to see them disappear. I may not shop there super often, but I like having them as an option.
Definitely don't want to see GameStop go anywhere. For me, place is awesome. Picked up DMC 5 last night at 9pm EST. Traded in Metro Exodus for $35 (im an Elite Pro member and wish I could renew it) and pre-ordered Sekiro for PS4 in which I used that $10 coupon I received for buying Far Cry New Dawn. Majority of my games are costing me under $30 day one which is great and something that digital or streaming for that matter will ever give me. Definitely have to support GameStop which im 100% invested into doing.
I'd start shopping there more often if they offered a decent substitute to GCU. Even if they couldn't match 20%, 15% or even 10% would go a long way towards some good will.
As it is now I pop in every few months to see what kind of merch is on clearance. Bought a Kirby shirt a few weeks back for $10, so that was cool.
As it is now I pop in every few months to see what kind of merch is on clearance. Bought a Kirby shirt a few weeks back for $10, so that was cool.
Lol no, GameStop could surely find a buyer for Game Informer and it's 6 million+ circulation. I don't know which media conglomerate would gobble GI up, but it's literally one of the largest magazines on the planet
How many of those six million people are going to stick around if gamestop sinks and they dont get it for "free" anymore?
Do you buy hundreds of millions of dollars in games yearly or something?
Yeah this the main reason this sucks, even though GS pretty much sucks.
I was a couple of days in US last week and to me it was extremely weird to see the Game Informer magazine in front of me, there sitting, and when I wanted to buy it the guy from the store told me he couldn't sell me one because I needed a subscription.
like, how on earth is that a correct business decision, I cannot buy a product they have.
thye need to change some things for sure.
like, how on earth is that a correct business decision, I cannot buy a product they have.
thye need to change some things for sure.
Their strategy of buying think geek and shoving nerdware into their stores has been hilarious and sad to watch. Meanwhile there's no actual effort in advertising a core product. I honestly feel like they'd be doing just fine if they just remodeled how the stores themselves look and focused on selling new games with better visual retail appeal.
They needed an overhaul in their retail stores, ethics, and the way they treat their employees. It should not have turned out this way. Hopefully they bounce back better, or from this, another player enters the fray with a better brick and mortar experience. Buying physical is my preferred method. Hate to see them go down.
Their stores seem less like game retail shops and more low-quality memorabilia outlets lately. The only reason to use them is to earn rewards points while buying PSN/Steam/eshop/XBL cards which you can also do at Best Buy.
Despite being a hard-to-navigate morass of Funko Pops, Nerf Overwatch crap, and cruddy Biogenik accessories, I'd miss my local EB Games. The staff is super friendly and I appreciate being able to just pre-order my niche games and drop by on the way home from work to pick them up, rather than having to deal with shipping BS.
They seem to be having problems with shipments lately, though. I hope it's not related to their financial troubles.
They seem to be having problems with shipments lately, though. I hope it's not related to their financial troubles.
Oof.
If they even hold out that long, it'll be because of the New Console Boost...
I'll probably start shopping there again honestly. Now that GCU is gone, I have no loyalties and there's one like 5 minutes away from home.
This logic is flawed unless you have numbers for subscribers that actively want Gameinformer. I don't but it's free with power up rewards. Gameinformer will die with GameStop, just maybe not initially.
They lost my customership as soon as they started to do this. Always thought this was BS, no matter the reason behind it.
Yeah. I quit there years ago after I got home and realized the "Gamestop" stickers on my "new" DS game weren't on the outside wrapper but actually INSIDE the game case on the paper cover for the game (and thus not removable). When I tried to return it, they said I'd opened it so now it was no longer new. I left it on their counter and did a credit card chargeback.
Fast forward some years and I did pick up a couple exclusive items but literally not more than 2-3 orders. Recently I tried to grab a couple hard to find "new" games online and they shipped me used copies for both. Some things never change.
It's not flawed really. No one has any idea how much revenue GameStop allocates to GI per subscription (if anything).
6 million print + web = plenty of ad revenue too.
It's folly to think that a big media company isn't looking at a magazine with 6 million circulation, the web presence and the prestige GI has, and isn't thinking they can find a way to monetize that. It could just as easily be bought by a media company who then strikes a deal with Best Buy to provide it to Their customers, etc
I'm not saying GI will stay as large as it is, but to think it's just going to vanish is insane.
GI is far too valuable and an actually successful part of their business
Echoing the "selling open games as new" thing as the main reason why I never shop there. Fry's Electronics, at least back in the '90s, used to do this with open returns too. At GS, this happened to me with Yoshi Touch & Go DS. Clerk ensured me it was "brand new", but when I got home, it had save data on it. Also had an experience where a rep threatened to sell my preorder to someone else because I came in "late" to pick it up on release day (which was around 5:00PM after work), another one who condescendingly told me that there was no such thing as a GBA with backlight (even though I was buying an SP+ from there), etc. Always with the upsell attempts too. I don't like the thought of people losing their jobs and people having fewer choices regarding where to buy, but the repeated bad experiences I've had gives me no sense of confidence in the company, so this is unsurprising.
To end on a good note though, the last time I went was when Xenoblade Chronicles launched since it was literally the only way to get the game at the time. No upsell attempt and I got my art book too.
To end on a good note though, the last time I went was when Xenoblade Chronicles launched since it was literally the only way to get the game at the time. No upsell attempt and I got my art book too.
I feel for the people who are going to lose their jobs, but personally Gamestop won't be missed. I've never had a more miserable experience shopping at a retail store then I have at Gamestop. There's a reason I haven't gone into one in well over a decade.
Yikes, I always enjoy checking out eb games here in Canada even though Im all digital and rarely buy anything anymore.
It'll be sad to see them go
It'll be sad to see them go
My GCU is still active for a few months more. Walked into best buy and walked out with dmc5 in less than 1 minute on my lunch break. Best buy is fine for physical games, I've found.
Totally agree with the sentiment that there is a place for gamestop in the marketplace, but their current merchandise and business practices are outdated and need to go away.
If best buy can succeed so can gamestop
Totally agree with the sentiment that there is a place for gamestop in the marketplace, but their current merchandise and business practices are outdated and need to go away.
If best buy can succeed so can gamestop
It just makes me wonder how a Gamestop with a functional web engineering team, non-shady tactics, and more than decent customer service would survive today.
While I get everyones annoyances and troubles they've had with the company (i've had my unfair share of that), it kind of hurts to see another VG retailer bite the dust. I do see the small value they have when it comes to finding rare/classic games.
While I get everyones annoyances and troubles they've had with the company (i've had my unfair share of that), it kind of hurts to see another VG retailer bite the dust. I do see the small value they have when it comes to finding rare/classic games.
All the music chains started selling books, action figures, coffee mugs, and all sorts of other knick-knacks to bolster their profits, so GameStop must have figured they needed to as well.
I get this feeling as well when GameStop pops up. I always have a good conversation with my localgamestop employees and they all seem to be generally pretty happy and knowledgeable. And this is across 3 different cities and states
friend who does securities trading says this is a classic distressed debt play and was wondering if there was any outstanding bonds that we could buy on the cheap to make the money off the liquidation. Guess he's rooting for them to go belly up soon
