It is no secret that GameStop, which was once considered the leading retailer for video games, is going through tough times. Last month, reports surfaced that the company's stock prices dropped due to the changing behavior of how consumers acquire their games, leaning more to digital purchases rather than heading into a physical store.
In an effort to stay relevant amidst a changing landscape that is becoming more digital, GameStop revealed that it is partnering with R/GA to develop new store concepts for gamers. In a nutshell, the plan is to go beyond just selling video games by providing a community for players to try out games before purchasing them. GameStop is also looking into hosting competitive esports events and opening new locations that strictly sell retro video games.
While the latest statement from GameStop did not delve into specifics, it appears that the company is trying to create a unique experience, encouraging players to visit their stores and engage with the rest of the community. As of the moment, GameStop did not give a timeframe on when it is planning to implement these new concepts, but it is likely that the changes will slowly roll out in the coming months.
From store concepts that offer competitive sessions in home grown e-Leagues to locations that sell strictly retro gaming software and hardware, GameStop will pilot the new store concepts in a select market to present something new to players both old and new, searching for experiences in gaming beyond the console.
Just last week, reports surfaced that GameStop is dying and analyst Michael Patcher revealed that the primary reason for the company's stagnation is due to the current console generation that has made digital games more accessible than ever before. Patcher explained that consumers nowadays put more value in digital games, especially since it has become easier to game-share between friends and family members.
Apart from the rising preference for digital games, the push towards video game streaming is also predicted to make a large enough dent on physical games. Several months ago, Google made a shocking announcement when it revealed the Stadia at GDC 2019. Google Stadia is an upcoming streaming service that promises to deliver triple-A games to all players who have an internet connection capable of 25mbps or more.
Given the ever-changing landscape of the video game industry, and the growing number of competitors that are pushing to go digital, it is interesting to see how GameStop's attempt to remain relevant will play out in the future.
Source: Globe News Wire