GameStop to Permanently Close Over 300 Stores
GameStop has announced that it will be closing over 300 stores this year as part of its ongoing [...]
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GameStop to close over 300 stores this year
- Thread starter KoopaSwitch
- Start date
comicbook.com
I imagine the situation with the corona virus has probably sealed their fate, not that they had much hope anyways.
I'm pretty sure this is why they were fighting tooth and nail to keep their stores open, going as far as trying to tell police they weren't breaking the law and trying to classify themselves as "essential".
I know it's a joke, but a reminder to people that Reggie still hasn't even started with GameStop.
Dude's probably wondering what he was thinking about now though...
Still hoping enough stores stay open for trade in deals on the new consoles. Their trade in deals on major platform launches are in the ballpark of selling on Craigslist etc. but less risk.
They still have over 5000 locations. On top of that in my area there are 6 GameStops within 15 minutes of me. There was never a need for them to have this many locations.
Yeah, some of their locations are absolutely unneeded. This is right down the road from me:
There are literally 2 essentially right across the street from each other.
I think Gamestop can survive, they're just going to have to downsize. There's way too many of them.
There are two Gamestop stores on opposing corners of an intersection in my town.
There are two Gamestop stores on opposing corners of an intersection in my town.
I think Gamestop can survive, they're just going to have to downsize. There's way too many of them.
There are two Gamestop stores on opposing corners of an intersection in my town.
that's so you can choose between the good gamestop and the other gamestop.
This happens when you buyout your competitors.Yeah, some of their locations are absolutely unneeded. This is right down the road from me:
There are literally 2 essentially right across the street from each other.
Yeah, some of their locations are absolutely unneeded. This is right down the road from me:
There are literally 2 essentially right across the street from each other.
The three near me.
That's the weird thing though, they've both been there since at least the early to mid 2000s, I don't remember any of the two being EB Games.
Probably thinking "Damn, they're going to pay me all that money to do what?" I wonder if a golden parachute was in his contract?
In some of the cases yes, like when I was a kid there were no GameStops near me. There was a Funcoland and an EB. Those got bought out by GS, but then they went on to put four more locations in the area. They expanded way too much and too quickly.
Inevitable. Especially when they had so many stores right next to each other for the longest time. Just because you buy your competitors doesn't mean you keep the stores open if they're two blocks away from your other store in the area.
The day has finally arrived. Who thought that COVID-19 would cause GS to close and end? Wow....the end came swiftly.
Don't feel much pity for the executives who forced employees to stay in the store during quarantine, but sucks for all the mid/low level employees who are going to be out of a job. Executives will get a golden parachute and the actual workers get shat on.
people ITT talking about "buying competition" but, to me, those maps look more like franchising run amok. Quiznos did the same thing where they let too many people franchise with no real thought to how they'd corner markets and it ruined their brand the same way.
You see the writing on the walls. Get the hell out of there.
I am no fan of Gamestop and don't feel bad for them. If people work for them, they have to know it's coming. It's been trending down hard for years now.
I very much feel bad for the people working for them, especially since all this is happening right now. People's employment status is often not fluid. People can see what's coming but have no way at all to alter it. My heart very much breaks for the people caught up in all this. It's not the guy at the cash register's fault his district manager makes him hound you for pre orders. If he doesn't do that, he's out a job.
Yeah, some of their locations are absolutely unneeded. This is right down the road from me:
There are literally 2 essentially right across the street from each other.
Lowe's and Home Depot being next to each other is kinda redundant.
I used to work for GameStop so I have my reasons for not feeling sorry for them.
Without the 2 within 5mi of each other near me I wouldn't have been able to buy 2 Shield controllers for $20.
ya, but I'm not saying I feel sorry for gamestop. I feel sorry for the people working there.
Not a surprise. I don't think all the bullshit of trying to stay open through the pandemic was because their management was greedy; I think it's because they literally couldn't afford to do otherwise without folding a ton of locations and attempted a Hail Mary.
The people yeah, the company no. It's an absolute trash company to work for.
Are lowes and home depot owned by the same company? Legitimately curious. If not, then it's not really redundant, as local cost of materials can vary by market, and having two stores like that so close benefits the consumer by driving down cost.
Lowe's geared towards consumers with zero exp in home improvement. Home Depot geared more towards contractors, so a larger selection of more specialized tools.
That's actually very common. They also are marketed more towards different groups.
GameStop having over 4,000 stores made a lot of sense last decade and before. 2004 through 2011 was the peak of retail video game sales, with the DS, Wii, 360, PS3, PS2 all doing great to insane hardware and software sales, which were +95% retail on 360 and PS3, and 100% on DS, Wii, and PS2.
2012 and onward, the shift to digital was inevitable. DS to 3DS was massively down, Wii to Wii U was abysmal, and you had Xbox wanting to go with a digital focus. Once the two biggest players, Xbox and PlayStation, started seeing digital shares of +20%, that's when the downsizing should have occurred. Now digital is 50% and higher on Xbox and PS, and Switch is following the trend of increasing digital shares every year.
With next gen, that'll start over 50% digital. If Xbox launches the digital only Lockhart, Xbox retail presence will be massively lowered.
GameStop needs to adapt to the market that has been around for almost a decade now. The peak of physical software is long gone.
2012 and onward, the shift to digital was inevitable. DS to 3DS was massively down, Wii to Wii U was abysmal, and you had Xbox wanting to go with a digital focus. Once the two biggest players, Xbox and PlayStation, started seeing digital shares of +20%, that's when the downsizing should have occurred. Now digital is 50% and higher on Xbox and PS, and Switch is following the trend of increasing digital shares every year.
With next gen, that'll start over 50% digital. If Xbox launches the digital only Lockhart, Xbox retail presence will be massively lowered.
GameStop needs to adapt to the market that has been around for almost a decade now. The peak of physical software is long gone.
