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GameStop

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GameStop

An American retail chain of brick-and-mortar stores that offers video games, electronics, and gaming merchandise, GameStop runs more than 4000 locations all over the United States. In addition to selling new products, GameStop also caters to the secondhand business by purchasing used video games and game consoles, then reselling them.

GameStop traces its history back to 1984 when a software retailer, Babbage’s, opened in Dallas, Texas. Quickly, the company became focused on video games such as Atari and Nintendo. After some difficult leadership issues and a bankruptcy reorganization filing, the company bounced around a bit until it became known as GameStop in 2000, under the ownership of Barnes & Noble Booksellers. It saw success from 2001 to 2016, but then saw some declines in sales as many video games were being played in non-physical arenas.

With its PowerUp Rewards program, GameStop customers can earn rewards on their purchases which will allow them to get discounts. The store also revealed a new Pro PowerUp Rewards Program for which customers can pay $14.99 per year to get extra rewards, such as a $5 monthly reward, 2% cashback in rewards, exclusive early access to product releases, and a subscription to the Game Informer Magazine.

Early in 2021, GameStop became the target of hedge fund investors who were betting against their success. But in an unusual turn of events, GameStop supporters on Reddit joined together by jumping in with day trading to save the stock prices of the company.

Working toward staying relevant in a particular online world, GameStop recently that it is creating a platform in an NFT (non-fungible token) format. The idea is to turn itself in the gaming version of Amazon, the online shopping company.

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