The 2020 Holiday Season Was Not Able To Save Gamestop

The 2020 Holiday Season Was Not Able To Save Gamestop

The video game giant has reported a decrease in sales for the 2020 holiday season. Click the link to find out how one of the most popular gaming retailers has fallen in sheer numbers.

Gamestop has always been a hot destination for gamers all over the country who are looking to get the newest games. Even though we are living through unprecedented times, the video game industry has seen a boom in social media interaction and money grossed all around. Twitter reported that there were over 2 billion tweets in relation to gaming this past year and the video game industry made so much money that it surpassed both sports and film combined!

However, these numbers did not apply to Gamestop apparently. Thanks to gamesindustry, we are made aware that the popular gaming retailer has dropped its holiday sales by 3.1% last year. It also reports that more than 450 stores were closed due to COVID-19. This makes it seem like many of the video game purchases were made online, while people are in the safety of their own homes and not risking getting sick outside.

On the other hand, Gamestop reported that their ecommerce sales (online purchases) grew by a tremendous 309%, which gamesindustry reports as 34% of the business. It seems as the company grew on certain places and it fell short on others. Holiday season is definitely the most popular time where people buy video games but it seems as it Gamestop gained new costumers and lost some old ones.

Here is what the Gamestop CEO George Sherman had to say,  "We look forward to executing on both of these areas in 2021 to expand our addressable market and product offerings supported by the many exciting opportunities to leverage our brand, extensive loyalty member base, and improving digital capabilities."

Gamestop has been a staple of the video game industry for many years now and from what the numbers say, the video game retailer will always be going through highs and lows. COVID-19 changed so many lives and will continue to change as long as it exists but people will find a way to stick with their loved ones and keep sharing their passion of gaming.

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