Remember the 3DS launch price war? GAME stuck to the high price they were initially asking for the 3DS, while smaller retailers and supermarkets started chopping the cost right out of the gate. All the supermarkets were trying to price match the likes of Amazon and ShopTo, not GAME who sat on their laurels and declared that people would pay their price (and some did for the sake of a "midnight launch")
Tesco and ASDA also danced to the same tune for Vita, with both offering deals that were as close to Amazon's as they were willing to get. I don't think GAME announced their "competitive" Vita Bundle till people showed up to claim their systems. I think this says a lot about who the Supermarkets have been paying attention to. IMO if Game was the one other retailers were listening to, you wouldn't have seen the price cuts and deals both systems got. The major difference between Supermarkets and GAME: is that Multimedia is just an addition to the main attraction (the groceries ect.) - so Tesco, Asda ect can actually afford to treat it like a loss leader when they need to. Plus cheaper game prices mean punters come in, buy a game - and hopefully decide to do their weekly shop at the store, or even just grab some munchies for their gaming night.
That won't change with the loss of GAME, if anything - it *might* encourage the supermarkets to focus a bit harder on their video game selections. That's a big if though, even the likes of Tesco cut back their efforts on video games and DVD's a while back (Tesco Bar Hill used to have a HUGE media section, these days it's relegated to a corner of the store in favour of technology and home appliances which I assume they make more money on) - I think the loss of Woolworths had a lot to do with that, as I believe their distribution leg was used by the supermarkets till they went into bankruptcy. So now everyone is a bit skittish about having lots of DVD's/Games in stock at any one time
I mean lets put it this way, during my wander around Cambridge on Thursday, the only one crowing about victory over GAME and Gamestation in stocking Mass Effect 3 was Blockbuster Video of all people (with hastilly written-in-word-and-printed additions to their advertising) - a company which itself has been teetering on the brink for a while.