Huge Additions to the Product Categories
All about the GameStop transformation process
Have you ever wanted to use something other than Amazon to buy electronics or entertainment? There's a good chance you can find what you're looking for at GameStop online, or in physical stores.
GameStop now offers:
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Smartphones and tablets.
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TVs and monitors.
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High end PCs, parts, and laptops.
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Home decor like curtains, string lights, and pillows.
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Toys including board games, action figures, Nerf guns, LEGOs, Melissa & Doug, VTech, and even batteries.
Of course, they still sell video games and the latest systems, but their catalog now includes items beyond collectibles and used games.
Toys and Games
A major addition to GameStop’s online marketplace has been their increased selection of toys, fulfilling a long-needed role since the bankruptcy of Toys“R”Us in 2018.
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Parents have been left with few options for toy shopping and GameStop has capitalized on that market by providing more options in action figures, board games, construction sets, puzzles, and trading cards. They’ve also expanded their line of products to include LEGO, Nerf, Barbie, Hasbro, Melissa & Doug, VTech, and many other popular name brands.
GameStop’s toy offering is already surprisingly deep and feels like a natural expansion to their product line given that one of GameStop’s primary customer bases is children - who can play with toys regardless of age even if they don’t yet have the motor skills or cognitive development for video games.
PCs and Laptops
PC gaming continues to grow and GameStop is in a unique position to provide their customers with the latest in computers and parts. The latest addition to the product lineup ranges from motherboards and monitors, to hot-item laptops and hard-to-find graphics cards.
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With GameStop’s loyalty program, PowerUp Rewards, the over 55 million members get early access to just such graphics cards and next-generation consoles that regularly sell out, creating a more loyal customer base. These offerings give GameStop an exciting opportunity to be a leader in the PC gaming world and provide customers with a physical location to make their purchase.
Used video game sales have always been a staple of the GameStop business model, but the video game landscape is changing and it appears that GameStop is evolving alongside it.
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The resale of physical copies of games will continue, but some games are going fully digital. It has been theorized that GameStop’s NFT marketplace will be solving this problem, making it possible for both GameStop and video game creators to continue profiting in the resale of a fully digital game. For more information visit the GameStop NFT marketplace.
The retailer is famous for its resale of used video games, but their sales of refurbished smartphones and other tech can be a game changer for generating revenue going forward. Refurbished smartphones are increasing throughout the world and the total refurbished electronics sector has a total addressable market (possible revenue) of $80 billion. That’s a huge untapped market that GameStop is poised to enter and command with its already-established network of stores and name recognition.
Beyond
The company has also started offering all sorts of other products, like electronics, batteries, clothing, furniture, and home goods. With growing backlash towards online retailer Amazon, many consumers are looking for a new place to make their purchases, and GameStop is stepping up to fill that role. Similar to Amazon Prime, Gamestop is improving customer loyalty through the PowerUp Rewards Pro paid membership program. In 2021 alone, the PowerUp Rewards Pro program increased to 5.8 million annual paying members, a 31.8% increase year-over-year. Through this program, GameStop has the ability to create strong customer relationships via exclusive offers and promotions.
An entire year of Pro is $14.99, whereas that same $14.99 gets you a measly month of Prime. You make your membership money back in store credit after the first month. Of course, any member can walk into their local GameStop store and get full benefits of their membership too. It’s a high-value rewards program that makes perfect sense for anyone shopping at GameStop. Power to the Players.
