This comes after the company already closed over stores over the previous two years. The company recently announced that it suffered a 30 percent year-over-year net loss in sales revenue for Q3, a harsh indicator of the direction things are likely still headed.
Given the timeline, it's hard to blame GameStop's demise on the stresses and strains of the pandemic —though they certainly didn't help matters. The company reportedly began floundering in , when Xbox One and Playstation 4 launched.
These offered digital storefronts owned and operated by Microsoft and Sony, which allowed customers to purchase their games directly through their consoles rather than visiting a retailer in person. They were just never even close. Still, leadership remains optimistic. Only time will tell whether GameStop will ultimately adapt or go the way of Blockbuster. Read on for four more megastores that have recently shuttered their doors, and for more surprising store closures, check out This Popular Clothing Chain Is Closing Stores.
Read the original article on Best Life. Representatives have shared that the closures are part of a new global strategy that the company had determined in , and are not the direct result of the pandemic.
There is no word on what stores or regions will be affected the most by those closures. Long time lover of comics, video games, and animated entertainment. Bachelors degree from the University of Irvine California. Your email address will not be published. Press F to pay respects. About The Author. Green Long time lover of comics, video games, and animated entertainment. Related Posts. Naomi on February 1, at am. Gamestop created a whole business model last year.
Their moving eccomerce. The bright red and white sign a symbol that fed their gaming needs. But GameStop has been on the rise with controversy of different ex-employees coming forward to talk about their experiences. The company has also felt the sting of the digital age slowly creeping up on it. For years, people have been switching to downloads and buying their games directly from the distributor.
Why feel the need to go to a store when you can just sit on your couch and download a game. Updated March 10, by Aden Carter: GameStop has been receiving more media awareness lately due to the fluctuating stock prices. Daytraders have taken it upon themselves to increase GameStop's stock in an effort to save the company.
With the hashtag SaveGameStop, some daytraders believe that GameStop will see a rise in sales as well as a rise in their bank accounts.
GameStop has always lacked some form of content in their stores and the years have only been worse for that. In , Sony decided to pull all digital content from GameStop's stores. That was a massive blow that helped people switch over to digital. Many customers were going into the stores for downloads because of promotional offerings or PowerUp Rewards points. Without those bonuses, it was better to stay at home and not waste the gas.
Before then, other digital items like PC games were hard to come by and some games had bonuses like discounts if you pre-ordered them through a digital store. It is no surprise that digital gaming has been on the rise, but do customers realize how much of a rise it has had? Fast forward to and the market has changed dramatically. That change is only going to increase as time goes by and internet speeds go up. GameStop closed stores in alone and plans on closing even more stores by the end of The company's sales have shown that they aren't nearly as profitable as they once were and it is starting to show.
With less people having access to a store close to them, it has become easier to switch to an online platform.
0コメント