Video game retailer GameStop has begun introducing major new changes to its business, giving a glimpse at the proposed future of the company. GameStop will begin offering price matching, something the company will likely extremely benefit from along with its lower prices for used games.
GameStop is in a bit of a transitional period following the saga surrounding its stock at the start of the year. Although that debacle is still going on, at a much more restrained level, the company is looking to use some of that publicity to its benefit. GameStop is ushering in an ecommerce model to help reposition itself as a competitive force in the gaming marketplace. As gamers move to digital purchases or just ordering physical copies of games from Amazon, GameStop is trying to compete and ensure it doesn't go the way of the dinosaur.
According to Wario64, GameStop has issued a price matching policy. This will work like any other retailer's price matching policy, wherein GameStop will adjust the price of its games if another store offers a lower price, with the exception of things like flash deals and bundles. The company only recently began making big changes like this, as leadership has changed. GameStop's CEO will depart this summer and the board has already begun interviewing capable candidates from the gaming industry.
GameStop had been stuck in its ways for many years, with the general consensus being that the company was run by people who didn't understand the gaming industry. Now Ryan Cohen, founder of Chewy.com, is chairman of the board, and will hopefully shepherd a new era of the company that could save it from its own downfall. Price matching is already a strong start, and will hopefully lead to increased business for the brand.
It's not clear what the next steps will be in reforming GameStop, but if this is just phase one of the process, the rest will likely be big and bold. GameStop is still maintaining interest from key investors, showing promising signs for the company's future. Whether or not it will be able to stick the landing with its ambitious promises remains to be seen, but it will likely save GameStop from an otherwise imminent death and keep it on life support for a little while longer. If GameStop can leverage its new business strategy to survive this next generation of consoles, it could be a great sign for the company's future.
Source: Wario64