GameStop is changing up its PowerUp Rewards program. Previously, GameStop PowerUp Rewards Pro members were able to get a 10% discount on used games, but that's being replaced with a $5 monthly coupon that can be spent on almost anything in the store. Additionally, any new PowerUp Rewards Pro level subscribers will get an extra $5 certificate when they sign up.
GameStop PowerUp Rewards Pro subscribers will also get invites to member-exclusive events, 2x PowerUp Points whenever they buy something at GameStop, and a subscription to Game Informer magazine. Those that go with the $19.99 PowerUp Rewards option will get the physical Game Informer magazine, but there's also the $14.99 version that will net subscribers a digital Game Informer subscription.
There are some caveats to these new GameStop PowerUp Rewards program benefits that subscribers should be made aware of. For example, the $5 monthly coupon does not roll over to the next month, so customers have to spend the $5 in GameStop stores each month or lose the coupon. This means that GameStop shoppers can't just let their free $5 build-up and get a free $60 game at the end of the year. Another catch is that the $5 can't be used for pre-orders.
It's unclear how GameStop shoppers will respond to these changes to the PowerUp Rewards program, but GameStop executives clearly think that it will be a positive thing for the company. It's no secret that GameStop has been struggling in a big way in recent years, with reports coming out that GameStop employees are under extreme stress as the company's very public financial struggles continue.
GameStop is attempting to reinvent itself in order to stay in business, but it's already had to close down a number of stores across the United States. Things like these PowerUp Rewards program changes are designed to keep the company afloat, but it's tough to say if this strategy will work out in the long run.
What will really help GameStop is the launch of the PS5 and Xbox Series X. New console launches have traditionally been quite lucrative for GameStop, as it's one of the most reliable ways to be guaranteed a new console on day one of release. Whether or not the company will hang on long enough for the PS5 and Xbox Series X launches remains to be seen, however.