The Decline of GameStop...What Happened?
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- Опубліковано 4 чер 2019
- Everyone's favorite video game retailer has been on the decline. They're likely to continue falling at an accelerated rate and have no real plan in place on how to fight it. This video talks about how GameStop got to this point.
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______________________________
Intro Made By - / @jombo1
*Brings in $100 dollar bill*
GameStop: “I can give you $1.50 in store credit.”
300th like.
I’ll give you about tree fitty
599th like
I was 713th like but I took it away.
Sevenninetwo
They have ripped people off for so long they drove away their customers.
I think the decline of the Wii U also really hurt GameStop as a lot of their revenue came from Nintendo products. I have video about the rise and fall of Nintendo, if you are interested.
game avg $59 trade in $4 lol, enough to buy a $4 vodka
Then don't sell to them? resale market needs margins. You can easily sell on your own however you want. They're not goign to buy it if they're going to be upside down in it.
Are we forgetting the unethical business practices and mistreatment of employees?
@Aditya M They gave them away for Black Friday .
I went into a GameStop today and I realized that more than HALF the store was toys and merchandise! The writing is on the wall.
I have fallen victim to buying Pokémon plushies in there 😅😅
It's basically becoming a Hot Topic for geeks.
@@bloodsword7888 isnt that just a thinkgeek? Think I thats what its called
@@hmmmwhat8406 Thinkgeek is owned by Gamestop
And most of them either never get sold or are on clearance
Whose here after GameStop stocks rose
Me
Me
Me
Me
Me
Gamestop is the new blockbuster.
They stuck to their guns while everyone else invented laser weapons.
They are the last living samurai in a modernized japan.
@@cristianluna5568 star wars is following suit sadly
@@cristianluna5568 samurai had honour, gamestop doesn't
@@beeflumps well,most samurai had honor.But yes your right gamestop has always been crooks.but sadly thats how the game industry is.difficult to turn a profit if you are not making sales.
@@cristianluna5568 IMPERIAL FORCE DEFIED
FACING 5000 SAMURAI
60 TO 1 THE SWORD FACES THE GUN
(Quote from Sabaton's song "Shiroyama", about the death of the last 500 samurai.
You selling a truckload of PS4 games: "how much for these"
GameStop: "10 dollars if you include the truck"
Gamestop: nvm, $5, it only has half a tank of gas.
$7 in store credit
North Star Coasters
Seriously. The uber expensive Earthbound cart had a trade in value of $30 while they have it posted for sale at $199.99.
@@brosephh7130 You have to keep in mind that forgeries are a thing. But even so, 30 bucks? I think it's the culture to haggle however.
North Star Coasters 😂😂😂
I don't really like digital downloads. The feeling of opening up a game case is amazing which is why I love physical copies more. I also love the box art which is nice.
Agree 100 % - BUT digital copies are always there, no losing discs, scratching, no getting up and switching games if I'm comfy on the couch,
@@ev14304 Yeah I get why people like digital downloads because of that. It lasts longer. I only get digital copies if there is no physical release or if the physical release is too expensive. (like with Limited Run Games)
Welcome to 2022
@@ev14304 until the service from where you digitally downloaded the game no longer exists. Good luck trying to sell your digitally downloaded games.
@@dereksbooks nowadays CDs also have drm. Not very different from download
When you trade in a game that they are selling (used) for $40, but only offer you $2.00 in store credit, there is a lot of resentment from customers. I won't go back.
"Oh your stock price is worth $5.04? I'll give you $0.37."
Are you insane? $0.37 is too generous.
Nah, 80%.
5 shinny new pennies.
Imagine what the store credit is for the stock price
GameStop buy 2 games get Stock free.
I want Company Man to deliver my eulogy. Nobody else could possibly do a better job explaining my demise.
Lmao
"Let me know in the comments. I want to hear what you have to say"
In 2010, you can can see his outward happiness seemed to be at an all time high, but if you look at his overall average alcohol consumption, it had been on a steady rise since 2007. By 2015, his outward happiness had fallen to its lowest point on record. In 2019, as alcohol consumption reached record highs, we can see the percentage of the likelihood that he would attend rehab had dwindled to near zero. Depression then began to climb at a faster rate than ever due to his failing personal and romantic lives, as well as the overall global political and environmental climates both reaching a fever pitch. It seemed at this point that Keith was too far gone to fix himself, and that may have been true. So when a helicopter exploded spontaneously above his head in 2031 and the falling debris killed him, it came as a shock to everybody.
Keith Green was enjoying unprecedented popularity in the mid-2000s, but around 2012 the market began to level off, and with the growth of social media, access to other Keith Greens began to eat away at his monopoly... ;)
Your funeral proceedings in a neat 13:41 minute video
I remember going into GameStop’s and looking at games back in 2009 and that’s a memory modern people just can’t get.
Is anyone one here when GameStop hit over $200?
Isn’t it more now?
I wonder if GameStop will take advantage of its high stock price and use it to buy another tech company so it can live another day
@@harrison6082 Another tech company like what?
@@harrison6082
Thats not how it w-
Ye
*Brings $150 worth of games*
*Employee looks at the penny in the floor*
Exactly.....i bought rock band when it first came out i bought two guitars and a mic came out to 150.....took it back to the same game stop only got 4 bucks for the whole thing haven't been since then
How is it worth 150 if no one will pay you 150 for it
Just because you paid $150 for the games doesnt mean they will always be worth $150
@@BobbiJuneVoss no but 4 bucks is a bit of a rip off to get back after only playing a few hours on it yea they can count depreciation but I'm sorry you dont have it drop that far in just a few days that's just bad buisness i could've seen me getting 80 or maybe 100 but not 4
@@paulperry9861 1. Prices can fluctuate. Either in your favor or not in your favor.
2. You made the mistake of buying it new. If you bought it preowned you could have returned it when you found out the game sucked.
Thanks to your mistake though, someone got your new game for cheaper and it was basically brand new. And if they didnt like it they got their money back.
It really comes down to four things
1) they rip off the customer especially with trade ins
2) they have locations literally a block from each other
3) digital is on the rise (though many including myself still prefer physical)
4) the game market itself right now is putting out alot of crap so people aren't buying new games as much and gamestop doesn't sell retro games
I preferred physical copies for a long time too. But sometimes discs stop being readable. That's never going to happen when you buy a digital game on a playstation or xbox or steam or whatever account. Also, I got a new pc that doesn't have an optical drive. So I need to buy games digitally now.
5) they set unrealistic sales goals for employees and threaten to fire them left and right instead of trying to build them up.
I used to also but games physical but two of my games stoped being readable and those games were expensive
@@WiseSam95 Um, yeah it will. DRM. They become "unreadable" all the time. You know what doesn't have this problem? Cartridges.
But it is not as bad as the video says it is. And on your fourth point, that doesn’t have to be that way. I mean, just look at Sony and Nintendo churning out high quality ‘Uncharted’ games, and those games require a lot of data and that makes streaming harder. So, physical copies for them are required. I think GameStop is still surviving due to them.
How they can fix it:
- Give people better trade-in credit
- Replace the merchandise with retro games
- Stop pushing the rewards program as much
That's literally it, the retro games would give people a better reason to go, and
fixing the trade in credit would help with restoring the public's respect in their brand.
@ShrekHarambe: Short, Simple, & to the point.
So basically they need to stop being Game Stop. Once their out smaller mom and pop stores can spring back up to take their place, since they usually offer EXACTLY that and so much more than Game Stop can at this point. Good riddance!
Or they just ask Reddit for help
Yeah, retro is why I would go
But every other mom and pop game shop did that and failed.
And this was before Covid19
I'd love to see Company Man's take on the ongoing GameStonk saga as it unfolds.
*Brings in the Xbox Two from the future*
GameStop: I can give you 5 bucks, 10 if you include the time machine
or a PS6 $2 for the PS6 $2:50 if you include the time machine
Not funny.
@@PBMdanya found the Gamestop employee
Nah. They will give u 5$ in store credit 🤦🏿♂️🚫🧢😂
@@PBMdanya big ass forehead
You can't spit on your customers and expect them to remain loyal. They have a bad business model and rip people off. Straight up. It was doomed to fail.
Guitar center does the same thing. You buy a $1,000 guitar and they give you $100. Either you take it or you may leave the store. It’s business as what they say
Gamestop's the biggest hoodlums in business. Let them Rot!!!
It's the pawn shop model. Which is absolute garbage. That's why the majority of people selling to pawn shops/gamestop either dont care, or more likely are desperate.
While I agree that the trade-in values were indeed low, I can also attest to the need because honestly so many of those used games wouldn't move. I can't count how many copies of Assassin's Creed or Madden that we had that just sat there for years because next to nobody bought them.
@@EmmureMARIO64 That aged well. Guitar Center is bankrupt now.
Gamestonk has just gotten the largest redemption arc of all time!
Why? What happened?
@@chunkymonkey7983 well a bit back Reddit bought a shit ton of GameStop stock and invested to throw off the hedge funds. This caused the stock to rise above 300 dollars and right now is chilling at 182 dollars
2021 may have you revisiting this one. haha
Man if I had the hindsight I do now
Even buying like $500 worth back in August would be thousands of dollars in profit now...
@@dddgaming885 only made about 2k... Better than nothing. Everything got locked out today around noon. Etrade was lagging so bad you couldn't do anything.
Me: Trades in 14 games
Gamestop: best i can give you is some pocket lint and a paper clip
I've gotten $70 from a gamestop b4
Traded in alot of ps3 games and 2 or 3 ps4 games
So accurate
elemental z0mbie I traded in a Wii U, two controllers, 15 games, one headset, all in one turn in and got $45 bucks
I took the complete rock band set up in prestigious condition ( with an extra guitar , set of drums and 2 of the games.) they offered me $12. I walked right back out with my items in hand.
Good timing. Gamestop's stock fell almost 40 percent today.
Good
The stock is currently $4.90 a share 😆
And I jUst bought some
Buy time.
@Evan Fiyzgerald Its because they released their 10Q last night and financials look terrible. Revenue in sharp decline, poor guidance, and will no longer give a dividend. Im sure you were just being facetious and don't actually believe videos like this have a material effect on the stock market.
I worked as an SGA/ASM for GameStop from 06-09 when we were riding on high and growing, I was hired at a former EB Games that was slowly transitioning to GS. The first year was great, but steadily they started enforcing some unkind business practices. We were competitive for numbers, your performance (and hours) were based on how many pre-orders and card/magazine subs you'd get. They'd have us push pre-orders on the premise of holding the game for 48 hours and then tell us night before launch to sell through all stock including pre-orders, they wanted to compete on day 1 sales numbers with other retailers. We had to deal with the fallout when our loyal customers that pre-ordered games would come in and not have their copy. When I was opening on a launch day I would still hold the pre-orders and many of our pre-order customers did indeed come in for their copies, but I got in serious trouble for it, they took me off morning shifts because of it. I only go to GS now if I need a replacement controller or part, or really to take the kids to look but really, those stores are more stuffed with merch than games. In 06-09 we were thrilled when we got one SMALL cart full of silly things like lanyards and patches. It's crazy walking into a GS today. I agree on the points about the online market making it difficult for new and used sales, and that poor customer treatment was not the ultimate downfall of GS. However, I feel that it probably left a bad impression on a lot of people and turned away any remaining loyal customers.
I mean, that was literally the point of pre-ordering, to lock your copy in and not have to fight a line of people for it. That's what they kept telling me, anyways, every time they rammed pre-ordering down my throat. Bless you for actually trying to hold them to their word, this is exactly why they stopped getting my business.
There was a GameStop CONNECTED to a Barnes & noble in my neighborhood, not next door, the Barnes and noble opened up into the GameStop store. Which was incredible when you’re a kid, mom asks if you want to go to b&n and you were able to check out the newest game release. It was an AMAZING combo.
That's basically what all Hastings were.
I still buy games and toys from them but I've never sold back a game.
I'd rather keep a game I hate than take a measly $ 0.75 for it.
It would have to be a really bad game.
I got 42$ in store credit for trading in shitty super mario party. Bought pokken tournement with it.
Xylia Grogg I got 40 bucks once for like 5+ games I just remember giving uncharted cod bo1 I think battlefield 3 and forgot the rest
or burn it
make it a youtube video
upload it
and receive 10x than what you bought it for
-plainrock124
Kaniner Flagg yeah I still buy games and toys from GameStop.
I saw Rick from pawn stars leaving game stop in tears!!!!
This comment is massively under appreciated.... Well done
That was a good one.
Most definitely
Apu from simpsons: look at these outrages markup prices you clever bastard I salute you
They beat Rick at his own game.
Should have bought stock when you made this video.
My local GameStops closed last week & it made me a bit sad 🥺 I loved going into them as a kid, excited to buy used games
Yeah, my boys were so excited to go to a GS in middle school. By H.S. they were more like :/ no point taking in perfectly good but older games for one thing.
GS EMPLOYE: can I get a raise?
Gs Manager: we are already paying you in store credit.
Buy the store with the credit
lol
Hell nah haha
🔥🔥🔥
Employee and customer treatment is a HUGE part why people don’t like supporting GameStop anymore. Plus a lot of their protocols, rules and regulations when it comes to certain things piss a lot of people off. Employees and customers alike.
There are lots, and I mean LOTS of issues that GameStop need to fix but a lot of them, if they ever did happen would come off as too little too little.
I was an employee of GameStop for 2-years. The store I personally worked in was great. But that was due to my manager deflecting every single thing that came from above that he could and running the store in the exact opposite way GameStop wanted it to be ran.
I worked at ebgames back in 2000 to 2005.
The micro managing of the bean counters destroyed productivity. Trade in value pissed off most customers.
Digital downloads will kill Gamestop.
I am european, and around here customer treatment is actually really good.
I hate GameStop to pull in customers they have been hiring cute girls to sell their video games, you ask them details on a game and they don't even know what your talking about, that's what made it nice walking in there having people with the knowledge of the product you're buying.
It says this was posted 20 hours ago. UA-cam is drunk again.
*20 hours ago* Sir, are you a time traveler?
GameStop is an interesting case because they’re decline is a multi-layered one.
The first and most obvious that was covered in this...digital gaming. Since more and more games are going into the digital sphere, there are fewer people buying physical copies. That’s sort of a “no duh” that you covered.
However, another one that you touched on, but didn’t cover in greater detail was their profit margins from used games. Simply put, people got sick of being ripped off on selling their used games and due to the rise of digital marketplaces like Amazon, eBay, Facebook Marketplace, Craigslist, etc., people are selling more of their games online because then they are getting 100% of the profits and can make FAR more than GameStop would ever offer them. However, it isn’t COMPLETELY the digital marketplace’s fault. GameStop sort of inspired people to approach the digital marketplace because they kept offering their loyal customers less and less for their used games. I legit used to go to GameStop at least once a month and traded games probably every 3-6 months. However, even I got sick and tired of getting shafted time and time again on my trade-ins so I stopped going to GameStop Almost completely about 5 years ago.
However, I think something you glossed over was how they treated their employees. I’ve heard horror story after horror story about how the company treated its associates that I’m amazed anyone would want to work for them. It’s hard to want to invest in a company that treats its employees like dog shit.
I’ve noticed in the few times I have went into a GameStop (which I can probably count on one hand in the last five years), they’ve been selling more game-related merchandise, which is sort of a double-edged sword because it’s lower profit margin, but still a nice mix. Let’s just say in those few times I went into GameStop, I left with more merch than games.
What should GameStop do? Well, as weird as this sounds, go back to its roots. I think it should be selling a lot more PC hardware because PC gaming is growing exponentially. I also think it should perhaps dedicate part of its store to perhaps some retro game sales. The only reason why I say that is when Nintendo was releasing the NES and SNES Classics, those consoles were selling like hot cakes and I had a friend who ran a small used video game shop and he does surprisingly well when it comes to selling old-fashioned used video game consoles.
However, I think the more likely event that’s going to happen is GameStop will go the way of Blockbuster in the next 5-10 years. The way the industry is going, I don’t think it’s a store that will be able to survive the transitioning market.
Touching on how shitty they are to their employees, this guy I know was either a store or assistant manager working at a GameStop store until closing. Someone came into his store and held him up at gunpoint. Cleaned out the register and swiped some consoles. The district manager callously wrote the employee up because he had forgotten to do a till change, so there was more than the usual amount of cash in the register.
Become an Arcade with food/drinks that can sell you games after you've tried them.
GameStop: Will someone please buy our company to save us from bankruptcy?
Random Investor: The best I can do is $2.50.
Or $5.00 in store credit.
goodgriefitssimon that’s awfully generous of you
Luke Cremecheese every trade in transaction is like a really bad “Deal or no Deal.”
Goodgriefitssimon toward a new PS5, I hope
the loch ness monster says he will buy it for about three fiddy
Me: *offers* *soul*
Gamestop: "Best we can do is $7."
$7.00 store credit or $0.80 cash
💀😂💀😂💀😬
Your stock worth must be abysmal.
Lol
😂😂😂
Damn. Who else waiting on the Rise of Gamestop video?
its not looking like theyre gonna rise
@@jannahjayy They have so much capital now that they can basically do whatever they want to turn the business around
@@verynice7367 🚀🚀🚀🚀
High prices, lack of having what I want (especially anything that didn't come out in the last couple weeks) and then many used stuff they do have is missing the actual cases and stuff. They state of any handheld games is appalling for anyone that actually likes collecting games and having cases with them
Person: brings in PlayStation 5
GameStop: the best I can do to is pocket lint
Nigga why you stole the pocket lint comment
And a bruised avocado
Customer: can I get change for a $20?
GameStop: here's an expired coupon and $2 in-store credit
Lmfao
Lmfao
Lomfa
lol
loofa
Next up on the Company Man: GameStop - The Rise and Fall...And Rise Again
I iike to have physical copies of games and GameStop is always the place I go to first. It's much closer to my house but inside the store I see more and more merchandise for the most popular franchises (Pokémon is a big one). I only spend maybe up to a minute at best and I'm out. Our lives now are so fast-paced we can get things delivered right to our fingertips by our very fingertips. The going out and trying to create an experience or get a sense of nostalgia is up to how much time your willing to lose. Many ppl don't care for physical store experience. They can pull up the inside of a game store online if they choose and also get their products from it as well. Sadly GameStop I predict will be part of the bygone era by the end of the decade perhaps. I just remember going inside about 2 weeks ago, I was the only customer there and that's how it was the year before and the year before that! GameStop used to be packed when I was younger. Just a sign of the times.
Game stop is just a place that sells games, and while I go there to buy physical copies… I’d enjoy some game merch or MORE variety of game merch. Or if game and FYE came together and sold movies and snacks I would spend more than a min in the store looking to see if they have s game I want …
I'm with ya buddy, and it got to a point where I started to feel weird and uncompfortable going in there, which is why I stopped.
*(Brings in unopened Playstation 5)*
Gamestop: " i can give ya a banana and a bag of gum"
Gamestop $5
Meanwhile they are selling the game for $59.99.
“I can give you a packet of monster munch and a high five”
TheTrucker Ed Show “i can give y’all a ketchup pack and a thin piece of fried chiken
Chewed gum
They should rebrand themselves into a games lounge. Rent out space for parties. Hold FGC tournaments there etc. they could still sell some merchandise and have a few games but less.
...that actually sounds like a great idea tbh.
I know Internet cafes are super popular in Japan. Maybe having a place to socialize with others and also a space to explore games and have tournaments will draw more ppl. I know universities are having e-centers for their students
Someone hire this guy.
I've been saying this for YEARS. Gamers and nerds have never had a place they can hangout. Coffee shops and such are just not a place to go to play your switch or set up a monitor and play some PlayStation. But if there was a place that was MADE for gamers and nerds to come and hangout and talk games and comics and stuff, that place would be a HUGE hub for people who love that kinda stuff! And it builds a LOYAL customer base that even though they could buy something online, they won't because they're already spending 2 or 3 times a week hanging out at the "lounge" that they'd rather just get it there with all their friends around
The problem is that their customer service is complete shit.
I think this video was massively ahead of it’s time. Great work.
Can't wait for your updated GameStop video next year
Also most of the GameStops you see are in malls, which in themselves are falling out of fashion
Near me, there's a large stand alone GameStop in a local strip mall that's always busy. Those inside malls are rather empty.
i still go to the mall to buy shoes/ clothes and general appliances and such... i would never want to buy that kind of stuff online. I doubt malls are going to ever become irrelevant. Malls are still revelant to teens and adults because theres just certain stuff you have to see in person before you buy. What makes you say they are going out of fashion?
Yeah, malls are definitely dying.
The one in the mall near me closed a year ago.
@@AnimalFacts Malls are dying? Okay lets see you say that while trying to find parking in the lot of a mall in the middle of December.
I think Rick from Pawn Stars got his negotiating skills from Gamestop. Just when you think you're getting low balled, they have you redefining the meaning.
You must of never been to a pawnshop
@@ApexZer0 this 1 went over your head.
@@ApexZer0 WOOOOOOOOOOOOOOOOOOOOOSH!!!
More like gamestop learned from him
Gamestop has been making lots of changes. They've paid off all their debt and are getting more into selling electronics online. They've even opened up a new distribution center. Their profits have been excellent that last several quarters.
Oh that's good to hear! 👍
Let's hope they start realizing that retro gaming is still profitable. If they got the ability to sell GameCube, Wii's, etc etc; it'd pull in a good amount of sale. Me especially, I rather someone buy me a GameCube and Wii than a new Xbox.
In my town they have 3 gamestops that where in close proximity to each other, so they closed the 2 stores and kept 1 of them open, and it is turning out to be success for them, and investing in there online retail is paying off
They posted profits last quarter for the first time in years, looks like they may be turning things around.
Who’s here after GameStop stock went nuclear
Treating their employees like humans would be a start.
*Sigh* If only the market would adopt such a standard.
No, see that's bad for business!
- Said dying business
well the 401k stock makes millionaires in 2021
@@kenpowell3557 Not anymore, lol...
Because the cute goth chick stopped working there. :(
This comment wins
Mine had one too. She was so timid but nice.
Was it something like this?
ua-cam.com/video/e_VaDyN-5Ko/v-deo.html
I feel you man..
A national company ruined by the cute goth girl leaving a single location. That's a tale for the books right there.
Somehow I think we’ll regret the day when all new games are only available digitally and think to ourselves “where did we go wrong?”
Physical music and movies still exist, but I guess it's easier for them since they don't have only 3 console manufacturers that could possibly bar the gates shut to assure a completely controlled software market
interesting twist
Gamestop's the type of company to buy a dollar for a nickel and sell it for 75 cents because it's used.
Hue Mongous Ever sold a car and then checked how much they are selling it for? Same percentages as almost anything else.
That's resale. Employees dont work for free
You just defined every business out there. Thats called making a profit. Every item you buy in a store is made for wayyyy less than what they are selling for. The biggest rip off is businesses that provide services and not products. They are literally spending a few bucks a hour to hire a guy to make hundreds or even thousands off you.
@@lucuslopez6866 yes Litteraly everybody knows that how else would you make money
Nobody:
Gamestop: Give us that rare limited edition game, and we'll give you 2 bucks
Lol more like 30 cents
Those limited or collection editions are like diamonds, the moment you bought it, is the moment diminishes in value.
The Great CooLite everybody:Adds Nobody: before their comment even though it adds no meaning
Barracko Taco Yeah you’re right. I just wanted to get likes on this comment
Destiny 1 = $220 investment
GameStop offer... 50¢
*_that how capitalism work!_*
I hope someone offers them $0.03 in store credit for their whole company.
Ah, this brings back memories. I worked at FuncoLand in high school, was there for the buy out. Worked for GameStop for years and became a store manager.
Perhaps they’d have more customers if they didn’t hold a gun to my head whenever I try to buy a $5 used game. I don’t want a GPG, a pro card, or a preorder
The funny thing is I've gone into GameStop and was ignored. The clerk's were busy squeezing money from the broke college kid and passed up the adult gamer with money burning holes in their pocket.
@@catluva74 Aw. :c
cat luva oh damn
cat luva Lucky. I couldn’t go in there without being harassed. Now I buy only digital copy’s from the comfort of my home, and am not lookin back 😎
Man. The intensity
I would do the following:
1. Close stores, especially in malls. There's far too many locations.
2. Completely change the way customers are treated. Stop the upselling bs barrage that ruins the shopping experience.
3. Sell/trade retro games in all locations and have them graded by condition.
4. Online sales can be made with grade/condition options.
5. Give discounts for new and used physical copies to pro rewards members. More new physical games out there supports the model.
6. Rebrand as Electronics Boutique. This will better reflect the retro products and will let everyone know the direction of the company is changing in a big way.
I don't know if it would work but I and many others would shop there again.
I hate the annoying upselling tactics they use. Given their troubles, I bet many others do as well.
EB Games was always a better business. Game Stop came along and killed my vibes about EB so quickly. The managers and employees at both my local Game Stops just always treated me like trash as if I was stupid for liking niche anime games and PlayStation. The manager at the time heavy handly convinced people that the Xbox 360 was the better option. Ironically Sony and Nintendo are on top now despite Game Stops heavy Xbox pushing last generation.
I’d love an update on GameStop now!
I think it would be smart move for them to start selling retro games
Sometimes on my local Gamestop sold out lots of old PC games
Game stop released their earnings yesterday, they completely got rid of their dividens which just toppled it nearly 40% today (6/5/2019)
It isn't that unusual for a company to announce a pause in dividend payments. I think what happened with Game Stop is that there is a lot of speculation that they are not going to be able to get back to a point where they will ever be able to pay dividends again.
I've had to jump around their return policy to return a console I bought the day before,
I've had to talk with support staff to get the case and manual of a pre-owned game,
I've had to deal with my dad trading in 13 of my PS2 games for $14.35 to buy me a Wii,
GameStop can crash and burn within the darkest depths of Hell for all I care.
Obviously need a rise follow up
Hold the MUHFCKEN LINE BOYS
GameStop today reminds me of RadioShack, about 5-7 years before its demise
Exactly 👏🏽
What the hell is a radio shack
@@bandyborus An Electronic Shop Popular In The 80s And 90s. They're Very Few Locations Left.
Absolutely correct.
@@just_.jordan Very few? I think you mean like 3. There’s barely any. Also another thing to mention is that they were too slow to catch up to the new electronics which made them fail.
New game at GameStop... $59.99, Amazon $51. Offerup $35 or best offer.
Stores are cramped and claustrophobic
Don't forget all the gender-fluid belligerent customers returning Bethesda games...
Makes a man fear for his safety.
The pirate bay $0
Amazon announced that new game releases will no longer be cheaper for prime members. I'm not sure if it happened but I do remember reading about that. I haven't verified it myself yet but that's only because I haven't been looking for a game. I wasn't happy because I buy all my game disc's from Amazon.
I also feel like online digital content is purposely priced full so people will not go all digital and still spend at stores. There in no reason a digital copy with no booklet or case or disc, cost the same amount to produce and replicate as a standard real setup.
Yea I went to gamestop for kingdom hearts 3 and used was 46 while at Amazon used it was 22 dollars
And then Wallstreet bets happened
the gamestop near my house has closed after like 11 years of being in my life i use to go there every time with my cousins and stuff and it just closed, but i bought borderland deluxe edition for 2$ on the everything must go sale.
Same. It was really sad, but I got a Zero arm canon for 25 dollars so that was pretty cool. I keep it as a memory of the place.
Once again I look forward to every Wednesday. Please keep them coming. Appreciate you and your work.
That's your real pic?
Yep these vids are awesome.
1. Offer online streaming
2. Goodies that go with the games that aren't offered anywhere else
3. Stop being so cheap on buying games back
They aren't as cheap as their reputation suggests. You just have to be smart about trading in games instead of simply expecting to get the exact price you want. Online streaming is a shot in the dark. With the rise of streaming services, they could end up just not making a big enough blip. They actually do have exclusive merch and pre-order bonuses.
the australian wing just outright opened a merch store chain so they can always hop industries if all things go south
they give you more money in store credit, but that’s about it
The one in my small town must just be terrible then. They've never been fair. Popular products or not.
The whole trade in thing is a scam for sure. I saw a while back they had a promo that if you traded in a console they would give you $250 credit towards a new xbox one x. The only console they gave that credit on was an xbox one x. So why would you trade a one x for a one x? People would rather sell on craigslist and get fair value for their stuff than get ripped off as bad as gamestop rips you off.
Touché UA-cam, touché
GameStop is dying because the prices are extremely outrageous not to mention you trade in the game they give you $5 for and they go and sell it for $30
For our parents they had Blockbuster
For us we have GameStop
In the end...they both fell from watching and buying digitally.
GameStop watched Blockbuster fall to an online store(Netflix), then they watched Netflix phisical DVD service go obsolete in favor of streaming, tons of movie streaming sites come out, then game streaming started becoming a hot topic that was only slowed down with Sony and Microsoft buying out and killing those companies, Theyve watched as those same companies move towards digital downloads, and Google pick up the game streaming business with Stadia....not to mention the rise of Steam during this whole time.
Game Stop's CEOs had many many chances and choose not to change their company. The CEOs killed Game Stop and investors should hold them accountable for their negligence.
Company man makes a video about GameStop after its stock falls 30%
*excellent move meme*
*VIEWS 100*
Frys Electronics!!!!!
I didnt watch the video after 10 seconds..but if my headset is broken..who am I calling..sure as shit not amazon
Who else is here after their stocks skyrocketed?
im waiting to cash out for a ps5 lmao
Me
Pretty sure this video will deserve an update of some kind soon...
(Selling a PS4 pro at gamestop)
Employee: we'll give you $50
Customer: only $50? This system is worth $400
Employee: $50.31 but you'll get $5 more if you want store credit instead
There was a dude at the mall back in the early 2000s that would loiter around the mall, offering to buy games from people for more than Gamestop, then resell them cheaper than GS at a local flea market. I was a mall cop at the time and GS would always complain about him.
@@EdgedShadow gotta respect the hustle
@@EdgedShadow that man's doing gods work
@@joshuagaray4330 The man's a scalper. They are terrible for consumers.
Why didn't you check the trade-in price beforehand?
me: wants to sell 10K worth of games
gamestop: ok 50 cents in store credit or 3 cents in real money
"real money"
So you spent $10k on video games over several years and now discover that those older games that are stale and outdated are no longer so valuable?
If you can find a sucker to buy them.... good for you. Unfortunately there just aren't that many people who would buy frankly any of those game. You can try eBay perhaps or a flea market and try to sell them yourself. Good luck with that.
Who else is buying and why do you really think that collection is worth $10k again?
@@GlanderBrondurg I mean there value not how much they cost to buy new
Nick Slouka that was obviously sarcasm with a hint of truth dude.
@@GlanderBrondurg Dude, flea market PC games are the fucking best!
I remember them telling me that for my wii u, missing a wii mote and sensory bar, I would only get about 13 bucks. Sold it with my few games on ebay for about 75, and I feel like that was still really cheap for a console, even if it is 8 years old.
No it's just another how much it costs to replace those things.
I have been to a few GameStop's. Space is too small. When you walk in, you feel like you're focused to buy something. You can't just walk around pressure free. I can't do these small spaces and after buying some used games from them I don' t trust the quality of their used games. I was also. not a fan of their customer service.
Where as Best Buy is huge, Walmart and Target is huge, they don't always have things in stock, but I can walk around and not be starred at by a single guy trying to get me to buy something.
"hey I bought this brand new game yesterday for $60. I'd like to return it, still in the package."
"Alright, here's $6. Thanks for your business"
They then put it on the shelf for 59.99 and act like that 1 penny off from new is just the biggest savings in the world
Man u lucky, I only got 50 cents
They give $25-$30 for new games that are popular and not yearly sports titles.
They actually won't take it back if it's still in the package (personal experience) because it might be a stolen copy. But then you open it and try to sell it to them, and now it's technically "used" so they take it for less. It's a total crap shoot.
@@tdestroyer4780 All these people complain that “Ooh! GameStop don’t pay anythin’ for all this stuff I brought in!” But they don’t realize this. Why are YOU bringing that game in for trade in today, it’s because they don’t want it anymore. Well, it’s likely that NOBODY wants that game anymore. The online servers are a ghost town, or the game is buggy beyond play, or the game is just a dissapointment on the buyers end. Well, they know that. That’s why some games just don’t have that high of a trade-in value. If I traded in a copy of Xenoblade 2 that I don’t want anymore, I’d actually get a fair price, because it’s a new game that people would actually want. The “GameStop scammers” angle is basing their entire armory that they expect the cash register when they trade in literal garbage.
It's game over for gamestop, they will be joining Blockbuster and Radio Shack soon
Only if the next gen consoles are strictly digital, if not expect another 5-10 years of slow cancer.
@@pewpewlazers5702 wow
Well they still sell merchandise and support enough older consoles. In my area it literally is the only option besides Walmart. No other resell stores or mom & pop operations. But they will have an even worse staffing issue.
Best Buy might be next.
@@bdog840
Oh yes they will. The only reason I used them in the last 2 yrs was their credit card. Bought a TV last year after we moved. That Best Buy closed 2 months later. The nearest one to me is now 30-40min away
I just had a thought. What if they did home delivery, Uber Eats style? $15 minimum purchase. Buy a $10 game? Have the option to buy like candy, or an energy drink or a lanyard or something to get to that $15. They could even try it with consoles.
I work at a GameStop location in NYC where the traffic of people is high, we’ve actually implemented this and it is the worst idea ever. GS partnered up with Door Dash making it so you can order any item, including systems, to be order on the website and delivered to you on the same day.
Every time without fail, either the order were abandon and left in our store because the delivery personnel didn’t feel like taking it or worst they would run off and steal it. Which was bad because it would lead to angry customers and 300$ of a hit our store takes. It just bad news and I would highly not recommend doing same day delivery.
@@jinxpotato5016 it's better to do it with famous delivery companies like FedEx or UPS.
Boy do I have some good news for you guys who believed GameStop was a dying brick and mortar company.
This video aged like fine wine. Look at GameStop now.
Wtf are u trying to say i read that like 20 times
GameStop has been pushing the rewards program on ppl over the last few years.
Also their shady practices in store is gonna lead to their downfall along with other issues.
Also managers constantly treat their employees like garbage.
C. MorningStar The biggest issue is steaming and downloading has made the business model obsolete
Not constantly. There are some managers that are actually cool. The simple fact is that there will be good managers and bad managers, same with any other corporation.
@@johniii8147 Not entirely. There are surveys that suggests gamers still largely want the option of physical copies.
jacoblgames Yeah blockbuster said the same thing
Some companies are just too out of touch and/or unmarketable. There is nothing to be done here. GameStop does not have a future as anything resembling GameStop. It will have to transform into something totally different, but the fact that no one has been able to do it is telling. GameStop could have developed its own game streaming console with an app store like platform several years ago and still failed.
The market for easily accessible accessories sounds like a good starting point, and the best option to remain somewhat within the "gaming" marketplace. In many places where Amazon does not have same day delivery and won't any time soon, if ever, Gamestop could easily try a lot harder to keep those customers happy, but all is not lost with those who do have same day delivery options, GameStop still has convenient locations and the potential for more diverse immediate inventory availability to entice those customers. I realise that Amazon is not the biggest threat, but it is the easiest to target outright at this moment.
I cannot feel too bad for GameStop. It was a company that killed and merged with its direct competition way to aggressively. This likely prevented healthy competing ideas and innovation, in the long run, but even with this, the market forces and emerging technologies were always going to force obsolescence into the industry.
Gaming is not dead in many ways, but it is definitely changing in a way that could potentially lead to a slow demise.
I worked for Gamestop for almost 4 years, working my way from an entry-level Guest Advisor up to Assistant Store Manager. My District Leader refused to promote me to Store Leader for over a year because "I lacked life experience" (being only 21 years old). I saw this company make HUGE changes in their business model from pushing pre-owned games and console sales to focusing on collectibles. After looking at profit & loss reports from stores around the country, I finally put in my 2 weeks notice this past January. This company is going downhill fast and nothing is more important than getting their share values back up, even at the expense of their most loyal employees. Fuck Gamestop
Camelot ?
Sounds like you're butt hurt that your District leader didn't promote you because you were a lazy millennial that didn't want to work. Tell the true story.
AFtER lOoKiNG aT pRoFiTs & LosS RePoRtS fRoM sToReS aRoUnD tHe CoUnTrY
@@Markos581973 so he works way up the ladder yet in your mind he's a lazy millennial, GFY
@@zachhoward9099 you're stupid if you think this is a true story
I remembered this video with all that’s happening. A meme can impact the stock market, but it’s not a good idea to buy right now
Wow!!!
There’s only like 10 left in East Bay Area California and one is temporary closed ..., dayum
Gamestop fell 35% today...is this the most perfectly timed video ever?
UA-camr manipulating the market
They SO deserve worse
@UCRTTlnX8yRP-wkKG5yCsgxA no it was because they released their earnings report which was lower than expected
lynk mak It was amplified by them cutting back their dividend. Got themselves into a bit of a pickle.
I wasn’t trying to imply that this video was behind the fall, just a really great coincidence.
@@lynkmak2675 those must've been some pretty fucking low expectations
Just in time as Game Stop stock is down just below 40% lmao
This aged well. LOL
Looking forward to the part 2 In a few months
I still think having the physical copies has it's charm....
Also my internet is not the best for downloading large games.
Yeah boxes just look neat on shelfs, just like books and comics
There are a lot of people who do like physical copies. There are still a ton of unanswered questions about how digital games will be supported when the console they are on is 1 generation ago, 2 generations ago or more. We are seeing the first waves of this as the Wii store went offline a while back. If I recall right, if you keep the games on the system they remain accessible. But if anything happens to your system you have no way to download them again. They are gone. Game collectors also hate downloads.
I still buy physical copies of games especially new game
I’ve learned that physical game copies can be played on different console as opposed to only on the console the game is downloaded on. One of my kids actually repurchased a used copy of a game they used to own which they previously sold, and later downloaded. They wanted to play it at a relatives house but their console was, “not leaving the house!” 😠◀️ said this angry Mom
Also game companies can shut down their online services, pretty hard for them to shut down a physical copy you own
Hey You should do a video of the rise of company man
Frys Electronics!!!! They are going down bad.
@@levipalafox A couple months ago I went to a Fry's in Atlanta on a weekday afternoon and it was a ghost town. The last time I'd been to one before that was one in Houston 7 years ago, and it was bustling all the time.
GameStop had the BRILLIANT idea of being a con artist to EVERYONE, including their employees.
They were wrong.
Absolutely!!!
I'd like to see a video on Hastings Books, Music, and Movies. I LOVED that place!!!
let's not forget that a lot of games being sold these days are "Live service" games, which means when the game "dies", it becomes completely unplayable. these sorts of Disposable Games are borderline toxic for Gamestop.
Also since it's live service, you can get an online code for much less.
@@fumothfan9That's another thing that poison's Gamestop's well. Non-Physical "Physical Releases". it's a cardboard/paper "disk" in the box with the online code. one use. no refunds. no trade-in. fuck you.
I'm pretty sure the game industry is actually actively trying to kill GameStop with these codes that they sell "physically". If you think about it, this practice is pretty unethical and I think a good legal case could be built upon it being extremely non-competitive.
Too bad Millennials have almost no desire to stand up for their rights today, unless it's trending in their social media feed, and then only if they can get likes for their effort.
Why would you want a game you'll eventually not be able to play?
@@h8GW Ok boomer
Gamestop: I've got 50% of my market stock here. It's worth millions.
Market: 10
Gamestop: 10 MILLION!
Market: Cents... I'll give you 10 cents for it.
I mean, it's used stock, it's the best price I can do
10 cents store credit or $0.03 cash
Hey man. I love your videos!! I'm new to the channel, but I've already watched over 40 videos!
Anyway, I work for Barnes and Noble and I was super surprised to learn of their history with Gamestop. It got me thinking... you should do a video on Barnes and Noble's Rise and Fall and Rise Again! It would be super interesting to learn about the financial history of the company I work for via a Company Man video!!
P.s.- thanks for all you do! You rock!
I had no idea that Barnes & Noble helped to create GameStop, just blows my mind~~~