adamsapple
Or is it just one of Phil's balls in my throat?
GameStop CEO Says The Company's Future Isn't In Games
The company is going deeper into trading cards.
www.gamespot.com
Gamestop Pivoting to Trading Cards - CEO "Our Future Isn't in Games"
- Thread starter adamsapple
- Start date
www.gamespot.com
Sebastian1295
Member
It's good decision business wise but it sucks as a fan of gamestop. People love to shit on them and bash them constantly, but i've only ever had 1 bad experience with them and they took care of it immediately and apologized profusely for it which i respected. The people who work there are cool AF the vibe has always been nostalgic too me and i always have found great deals there. Just sucks man cause i feel like a piece of my childhood is fading away.
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yet_another_alt
Member
Sure, let's have the company that punches staples through Switch 2 screens handle valuable trading cards.
tylrdiablos
Member
Chasing Whatever Is Currently Popular or Flavour of the Month.... Stop.
SeasonedInTheAbyss
Member
This company should have been dead and buried by now. They sucked so bad at what they did they needed a meme stock to stay alive this long. I'll never forget the time I wanted to sell my pretty much new in box just had sat on my entertainment center Xbox One X that I scooped up for $250 on clearance when they eliminated the stock and the employee claimed that the controller I had brought with it which was barely ever used to have said "stick drift" according to the obvious shit ass app they had setup to fuck over anyone trading in a system and only offered me $25 for the whole just about opened new in box system and controller. That controller never, ever, drifted. My og x360 wired controller I still use as my regular PC one cause it fits my hands so good can drift till you press it down on l3 but the one brought in had no such issues whatsoever.
bender
What time is it?
It's a smart move. The owner's son at my local mom and pop store has slowly been converting more and more of the store's display and shelf space into trading cards (mostly Pokemon). Physical appears to be on its' death throws and we might have one more console generation supporting it.
Dorfdad
Gold Member
Won't last 5 years not a big enough market for this for their current stores. I'd imagine 50% of locations will be closed and they will try to become more like a consumer version of microcenter. Selling pc hardware / consoles and skipping media. They will be the hipster version of spensers. Gaming knickknacks, and peripherals. Kinda like a Japanese head shop.
March Climber
Member
They can probably ride the wave of trading cards mixed with retro offerings (consoles and cartridges) for a while, but yea they will definitely shrink more as games go more digital.
They tried so hard to figure out a way to stay in the game with little digital extras and discounts but it just isn't enticing enough.
Baemono
Member
Arf was about to say it
ValiantInstance
Member
Sounds like Game in the UK, which is months away from shutting its doors. They ended trade ins and started selling tat like Funko Pops, their games are also more expensive than everywhere else.
The only way Gamestop can survive is focusing on its preowned business, similarly to CeX over here.
The only way Gamestop can survive is focusing on its preowned business, similarly to CeX over here.
Soodanim
Member
I've said it before, but in a way I do feel for the UK equivalent GAME, and by extension GameStop.
Game struggles to be competitive because they can't afford sell cheaper than supermarkets and websites. I know this to be true because I've seen their margins. So when they started devoting more and more of their shop floor to other things it made sense.
I still remember the good old days of being able to refund games you had played, but let's be honest: that was taken away because people abused the hell out of it. I only ever did it once when Jak & Daxter lasted a day and I didn't think that was worth £40.
But the sympathy ends when you think of the other ways these businesses conduct themselves. The game I returned was probably sold as new anyway because of the condition, and being opened makes no difference because they open every box and take out the disc. When other stores were selling COD cheaper, Game employees were sent to buy copies that were then sold in Game stores (or so I heard, don't remember the source for that one).
But high market value trading cards? I wouldn't, personally. I'd take them to a specialist who knows and respects that niche, not some sod on minimum wage who couldn't care less.
Game struggles to be competitive because they can't afford sell cheaper than supermarkets and websites. I know this to be true because I've seen their margins. So when they started devoting more and more of their shop floor to other things it made sense.
I still remember the good old days of being able to refund games you had played, but let's be honest: that was taken away because people abused the hell out of it. I only ever did it once when Jak & Daxter lasted a day and I didn't think that was worth £40.
But the sympathy ends when you think of the other ways these businesses conduct themselves. The game I returned was probably sold as new anyway because of the condition, and being opened makes no difference because they open every box and take out the disc. When other stores were selling COD cheaper, Game employees were sent to buy copies that were then sold in Game stores (or so I heard, don't remember the source for that one).
But high market value trading cards? I wouldn't, personally. I'd take them to a specialist who knows and respects that niche, not some sod on minimum wage who couldn't care less.
Haint
Member
They don't really have a choice, Xbox is all digital and out of the hardware space entirely. Nintendo has half a foot out the door, and Sony has 7/8th's of both feet out the door. We will be incredibly lucky if PS6 supports discs or a disc peripheral at all. So even if there is a market for physical and trade-ins, they can't sell what doesn't exist.
Gonna be a long, long time till they're dead. They have like $8 Billion dollars (Billion with a B) from selling shares during the meme stock rallies, no debt, and their overall business is profitable (i.e. they're not losing money or operating at a loss).
It's dead, Jim.
Gonna be a long, long time till they're dead. They have like $8 Billion dollars (Billion with a B) from selling shares during the meme stock rallies, no debt, and their overall business is profitable (i.e. they're not losing money or operating at a loss).
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kiphalfton
Member
What a coincidence GameStop shat the bed right after he took over the reigns.
Stores are run like shit, bunch of nonsense policies, website is in the worst shape it's ever been, stires all over the US are closing, inventory is a joke, short staffed, etc.
Stores are run like shit, bunch of nonsense policies, website is in the worst shape it's ever been, stires all over the US are closing, inventory is a joke, short staffed, etc.
Deputy Moonman
Member
The most interesting part of that whole article is the mention of bitcoin. I think that could actually work out for them.
CuteFaceJay
Member
Given the fact even Nintendo are moving away from physical this is the leap they need to do in order to remain, Hopefully that bitcoin stack looks after them because the TCG bidnis is rough.
Poppinfresh
Member
Gamestop should have been allowed to die a natural death a few years ago.
dragonyeuw
Member
Give em another 3 years, and Gamestop will be relegated to a little section at the back of a footlocker selling Pokemon cards.
SILKYSMOOTH30FPS
Member
Sell used panties as well since we're at it. Japan has em, so why couldn't they?
Mister Wolf
Member
It's almost over.
hemo memo
You can't die before your death
They could think of something more creative than trading cards.
POKEYCLYDE
Member
Gamestop: You wanna sell that mint PSA 10 1st edition Charizard? I can give you $5.
Solarstrike
Member
They should/should have merged with Toys R' Us for the action figure(s) market alone. That's a huge industry as well. Further, If anyone could bring back physical games, they along with support from investors and interest from the gaming development sector, could do it. There's enough plastics floating around in the ocean that can be utilized to supply the gaming and toy market for years. To include materials for physical gaming manuals and maps as well. Gaming in the mid 1980s-late 1990s was surely an experience. I miss being able to open a physical map of a game and dive in to the details. Or getting a whiff of a new and fresh gaming manual. I'd pay an extra $5 game price towards the recovery and recycling to make it all happen. Utilizing autonomous or otherwise drone network(s) for recovery of the materials can be done. Need thinkers and motivators to make it happen!
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Northeastmonk
Gold Member
Turned out to be a shell of what they use to be. Going to Babbages, Software Etc and EB Games was fun and exciting back then. I haven't wanted to walk inside of their store in over a decade.
Sad day when even their CEO doesn't see games in their future. I always had a feeling like they were greedy, money hungry at the top.
Sad day when even their CEO doesn't see games in their future. I always had a feeling like they were greedy, money hungry at the top.
spookyfish
Gold Member
They see the writing on the wall. Instead of making deals (they probably don't have the capital) to try and be the brick-and-mortar LRG, they'll take the way of least resistance--as they see it.
But I would think collectors of that type of collateral already have places to go/built relationships with dealers. We'll see.
But I would think collectors of that type of collateral already have places to go/built relationships with dealers. We'll see.
adamsapple
Or is it just one of Phil's balls in my throat?
The 3 closest GameStops near my zip code have closed down in the last 12~ months.
Now the nearest one is a good 8~ miles away. Not that I've stepped into one in years.
Now the nearest one is a good 8~ miles away. Not that I've stepped into one in years.
RoboEight
Member
The amount of times I lined up outside of an EB Games for hours on midnight launches brings back such great memories. While it does suck Gamestop just isn't the same anymore. The one near me is so jam packed with garbage it's hard to look at games when you can barely walk down the isle because right behind your head is GOT replica sword sticking out. Question is how long is this card fad gonna last, I mean would they be able to keep up with stock as most of these sets are gone in a day whenever they get released.
A card/hobby shop would be cool and didn't they want to open up their stores before for people to hang out? if they go with that idea and sell cards/ models and set it up that people can go there to play cards or work on models it could be interesting but not sure how that would work on a large business scale. I know where I live there is a lot of the small local places that do this and they're always so busy.
intbal
Member
R6Rider
Gold Member
I had one in each small city near me. One I frequented a fair amount because Amazon has lately been slacking with release date deliveries, and I liked the employees there.
Both closed a few months ago I think on the same day.
Poppinfresh
Member
If they do that then they should lean into the tech side of hobbies and offer 3d Printing, laser cutting, and desktop CNC supplies too.
It's pretty much online only for that stuff, at least where I live, and while Amazon can get most of the stuff to me the next day, it would be nice to have a local option.
Evil Calvin
Afraid of Boobs
Trading cards are the fad now.
Just like comic collecting exploded in the 90's then died due to speculators buying up 'collectible' issues....variants, crossovers, special covers, new#1's...etc....then dried up.
the same will happen soon with cards.
Just like comic collecting exploded in the 90's then died due to speculators buying up 'collectible' issues....variants, crossovers, special covers, new#1's...etc....then dried up.
the same will happen soon with cards.
El Muerto
Member
My local game store opened up and struggled there in the beginning by just dealing video games. Now they have Magic and Yu Gi Oh tournaments and also buy and sell cards. Kids are still interested in Pokemon cards now. I usually buy them for my nieces and nephews for their birthdays and christmas.
StreetsofBeige
Member
GS never really sold trading cards before? I would had thought after console games fizzled out long time ago they would had also done cards to go along with the wall of Funko dolls and other knick knacks they sell.
I dont follow their financials, but amazingly they will stick around for a while. The meme ride years ago built them a warchest of money, and they just issued some notes worth about $2 billion exercisable in 2032. And if bitcoin keep rising over time that adds asset value as they are slowly trying to convert to a bitcoin holding company like a pint sized Microstrategy company. Right now skimming articles, they raised $1.5 billion worth of money earlier and used a bunch of it to buy bitcoin tokens. They have about 5,000 bitcoins now.
I dont follow their financials, but amazingly they will stick around for a while. The meme ride years ago built them a warchest of money, and they just issued some notes worth about $2 billion exercisable in 2032. And if bitcoin keep rising over time that adds asset value as they are slowly trying to convert to a bitcoin holding company like a pint sized Microstrategy company. Right now skimming articles, they raised $1.5 billion worth of money earlier and used a bunch of it to buy bitcoin tokens. They have about 5,000 bitcoins now.
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TKOFromTokyo
Member
Cohen's hero must be Eddie Lampert. He's sucking dry this sinking ship.
