GameStop Corp., the company behind the world’s largest retail gaming chain, has recently announced that it will commence refocusing efforts to create more unique in-store experiences amid ever-increasing digital sales. In an effort to reach its goals, GameStop is forming a strategic partnership with R/GA, a global innovation design firm.
GameStop’s announcement and partnership with R/GA come after the two companies conducted qualitative and quantitative research on what apparently motivates gamers. These four motivations are:
With these for motivations in mind, the two companies will commence efforts to transform GameStop’s business structure to refocus on customer-centric experiences. Such experiences incorporate more streamlined concepts for physical retail stores that will provide more opportunities for gamers to ‘try before they buy.’ Store layouts will also be adjusted.
According to an official press release, GameStop and R/GA are also looking to create in-store spaces for local gaming competitions and stores that specifically sell only retro gaming hardware and software — things the company likely has a large supply of, given that it has been the go-to place to exchange old video games, consoles, and peripherals for many years.
In other GameStop-related news, the company just recently announced the end results of its tender offer to buy a maximum of 12,000,000 Class A common stock shares at one-tenth of a penny per share. Many financial analysts have long noted that the brick-and-mortar company is in decline. It recently witnessed its stock price drop from $16 per share to $5 per share in 2019, alone.
The world's biggest video game retailer, GameStop, is dying: Here's what led to the retail giant's slow demise https://t.co/IFLQ18inmz
— Business Insider (@businessinsider) July 3, 2019
With this in mind, it comes as no surprise that the company would pivot — but doubling down on brick-and-mortar locations may come as a surprise to many as the world continues to transition into an always-more digital atmosphere.
What do you think about GameStop’s doubling-down efforts to increase in-store experiences for gamers? Do you think the company is dying? Let us know your thoughts in the comments below!
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