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PSA: Spend your leftover Gamestop credit ASAP


#31 dennisb407   Brickseek DN Banned   6245 Posts   Joined 14.1 Years Ago  

Posted 21 March 2020 - 05:25 AM

I dont like the HDMI port



#32 TheLegendofTyler   CAGiversary! CAGiversary!   5041 Posts   Joined 13.0 Years Ago  

TheLegendofTyler

Posted 21 March 2020 - 05:25 AM

I have a bunch of power up points I probably should have redeemed. I miss the days I could redeem points for $10 eShop codes. I only have about $50 left in GameStop credit as I've been slowly moving my credit to Amazon by buying games and trading them to Amazon for more or equal movers, glad I've converted most of my credit, might just buy an eShop code and fully cash out.

#33 TimPV3   I don't play games, I play GameStop CAGiversary!   3093 Posts   Joined 17.2 Years Ago  

Posted 21 March 2020 - 05:44 AM

1) Operating costs don't go to zero even when you close your physical stores. You have to keep paying rent and other obligations, such as interest on debt.

2) Gamestop has a 1.9 debt to equity ratio, meaning they owe about double what they're worth. The stock market crash was the needle that broke the camel's back. This is pretty much the inflection point of a doomed company.

1. Literally every business is dealing with this, the government will step in

2. Their stock has been shit for a while, and it is higher right now than it was a month ago

 

If anyone paid attention to Circuit City or ToysRUs, they stopped getting games and consoles months before they declared bankruptcy, because distributors were worried that they couldn't pay for the shipments. That's also why K-Mart stopped carrying games in 2015. GameStop has new consoles in stock right now, and all the big releases. 



#34 NoThanksBro   Vampire Killer CAGiversary!   482 Posts   Joined 15.7 Years Ago  

NoThanksBro

Posted 21 March 2020 - 05:45 AM

PSA: Stop fearmongering.



#35 now1   Banned Banned   200 Posts   Joined 15.6 Years Ago  

Posted 21 March 2020 - 05:54 AM

GameStop is essential to my families safety and well being

#36 knothead65  

Posted 21 March 2020 - 05:55 AM

Not saying I believe one side of this or the other, but could they really close fast or never re-open when many people have pre-orders that they have $50 down on them or even paid off in full? Not to mention gift cards trade credit etc.



#37 aircobra   Banned Banned   3802 Posts   Joined 14.1 Years Ago  

Posted 21 March 2020 - 06:06 AM

Not saying I believe one side of this or the other, but could they really close fast or never re-open when many people have pre-orders that they have $50 down on them or even paid off in full? Not to mention gift cards trade credit etc.

No, that won't happen. They have to at minimum, allow the pre-orders to be cancelled and refunded. You also have to be able to have enough notice of a complete closure, so that you can use any store credit you have.



#38 pun123   CAGiversary! CAGiversary!   3605 Posts   Joined 17.0 Years Ago  

Posted 21 March 2020 - 06:18 AM

I just finished mine out yesterday on some bliz credit and psn cards, but the funny thing is they are one of the few stores that can stay open so people were actually shopping in store because they are labeled essential!



#39 jrr6415sun   CAGiversary! CAGiversary!   3055 Posts   Joined 11.0 Years Ago  

jrr6415sun

Posted 21 March 2020 - 07:09 AM

ToysRUs honored giftcards for 6 months after filing for bankruptcy. Why do people think GameStop will just close up and their inventory and fixtures will magically disappear? It's 2020, why are we this stupid?

They're saying that to explain why they're staying open, when it's really just to make a shitload of money from schools being out and AC/Doom. There is no way that closing for 2 weeks while not paying employees is going to put them out of business. They would've been doing worse without the coronavirus.

Toysrus wasn’t closed when it went bankrupt. When GameStop goes bankrupt they will already be closed for months and employees gone. Who are they going to hire to sell the rest of their inventory?

It would be a horrible business decision to pay rent for 6 months, hire all new employees just to sell out the inventory on clearance. You wouldn’t even make your money back. Most likely the stores will be shut down for non payment of rent before the virus is over.

Comparing toysrus and GameStop is comparing apples to oranges.

#40 jrr6415sun   CAGiversary! CAGiversary!   3055 Posts   Joined 11.0 Years Ago  

jrr6415sun

Posted 21 March 2020 - 07:12 AM

Not saying I believe one side of this or the other, but could they really close fast or never re-open when many people have pre-orders that they have $50 down on them or even paid off in full? Not to mention gift cards trade credit etc.


Of course they can. I know a restaurant that sold gift cards the day before they shutdown when they knew they were shutting down. What are you going to do sue them? The best you can do is a chargeback if you paid by credit card.

#41 Omni99  

Posted 21 March 2020 - 07:53 AM

No, that won't happen. They have to at minimum, allow the pre-orders to be cancelled and refunded. You also have to be able to have enough notice of a complete closure, so that you can use any store credit you have.

If you paid cash for a pre order, they have to refund you. But store credit may fall under the category of gift cards, which are considered an unsecured loan in a retailer bankruptcy and they do not have to allow you to use them.



#42 Larry Davis   It's All Smooth Sailing From Here On Out CAGiversary!   2866 Posts   Joined 7.6 Years Ago  

Larry Davis

Posted 21 March 2020 - 11:14 AM

agree that The Rona will kill Gamestop but there will be opportunities to dump your credit



#43 Davem   Picture was the top google result for my username CAGiversary!   1338 Posts   Joined 2.9 Years Ago  

Posted 21 March 2020 - 11:19 AM

I disagree that Corona will kill GS.... what will a bunch of out-of-work people quarantined to their couch want to do?

 

The question is how GS will execute to get those gaming dollars, and if they can actually get their website/app to work correctly 100% of the time. Removing their "Free edge shipping" is the decision that doesn't make any sense to me if they want to compete in this environment. 



#44 strikeanywhere  

strikeanywhere

Posted 21 March 2020 - 12:25 PM

Something I'm not clear on : in a forced-closure state, are online-only businesses allowed to stay open? There's no direct contact with the public. Does every Amazon and Ebay 3rd party seller need to shut down? Does anyone know the answer to this (and not just speculation)?

 

If the answer is yes, Gamestop will continue to get income from their online sales. In fact, they could consolidate much of their inventory into larger stores and run those as warehouses for online orders as well. This would involve paying/keeping much less staff, but also allowing for a larger revenue stream (more stores with their inventory available for online purchase means more sales).

 

Obviously this couldn't last indefinitely without a replenishment of used inventory, but it would certainly help during the lockdowns.



#45 Larry Davis   It's All Smooth Sailing From Here On Out CAGiversary!   2866 Posts   Joined 7.6 Years Ago  

Larry Davis

Posted 21 March 2020 - 12:51 PM

I disagree that Corona will kill GS.... what will a bunch of out-of-work people quarantined to their couch want to do?

 

The question is how GS will execute to get those gaming dollars, and if they can actually get their website/app to work correctly 100% of the time. Removing their "Free edge shipping" is the decision that doesn't make any sense to me if they want to compete in this environment. 

gamestop isnt the only place you can buy video games



#46 Larry Davis   It's All Smooth Sailing From Here On Out CAGiversary!   2866 Posts   Joined 7.6 Years Ago  

Larry Davis

Posted 21 March 2020 - 12:52 PM

Something I'm not clear on : in a forced-closure state, are online-only businesses allowed to stay open? There's no direct contact with the public. Does every Amazon and Ebay 3rd party seller need to shut down? Does anyone know the answer to this (and not just speculation)?

 

If the answer is yes, Gamestop will continue to get income from their online sales. In fact, they could consolidate much of their inventory into larger stores and run those as warehouses for online orders as well. This would involve paying/keeping much less staff, but also allowing for a larger revenue stream (more stores with their inventory available for online purchase means more sales).

 

Obviously this couldn't last indefinitely without a replenishment of used inventory, but it would certainly help during the lockdowns.

yeah you can still operate online. a comic shop i frequent now has to do everything via mail for the foreseeable future



#47 Kerig   PSForsaken no longer! CAGiversary!   6276 Posts   Joined 17.0 Years Ago  

Posted 21 March 2020 - 01:07 PM

Does every Amazon and Ebay 3rd party seller need to shut down?

If the answer is yes, Gamestop will continue to get income from their online sales.

No, not at all. Amazon is just limiting/delaying their warehouse incoming stock (and shutting down resellers scalping goods). That doesn't impact you or me from selling a game from my house to someone else. All mail/delivery is still good. USPS/Fedex/Amazon/UPS have confirmed staying operational.

The real problem/issue: Gamestop is on the bottom of just about everyone's list if it resorts to buying online-only. The only insurance we had with their used stock was that we could exchange it in-store if needed. With that option gone, NO ONE will be choosing their garbage garage sale mystery selection over Amazon or eBay for used games.

#48 zaorocks   CAG Veteran CAGiversary!   109 Posts   Joined 10.7 Years Ago  

zaorocks

Posted 21 March 2020 - 01:35 PM

Not saying I necessarily believe that this is going to happen but several stores near me stopped getting new consoles over the past few weeks to the point where they all have essentially none now. And last night I attempted to buy an Xbox One controller and they were out of every variety. The SL said they hadn't received a delivery of them in nearly a month. A quick search showed none avaolable within a 150 miles too. Kind of odd that they stopped receiving new controllers and systems.

#49 lionheart059   CAG in Training CAGiversary!   634 Posts   Joined 9.6 Years Ago  

lionheart059

Posted 21 March 2020 - 03:16 PM

Not saying I necessarily believe that this is going to happen but several stores near me stopped getting new consoles over the past few weeks to the point where they all have essentially none now. And last night I attempted to buy an Xbox One controller and they were out of every variety. The SL said they hadn't received a delivery of them in nearly a month. A quick search showed none avaolable within a 150 miles too. Kind of odd that they stopped receiving new controllers and systems.

Had the same experience with stores in my area pre-corona.  I had to replace my X1S as the video was going out on it, decided to make the jump to a 1X since I was replacing it anyway.  Of the stores in my area, only two had X1X consoles in stock, and only 2 or 3 of those (only the NBA2K20 bundle, too).  When I asked they said that all of the stores were basically just stuck ordering consoles as requested because sales of new hardware had slowed so much for them.

"But we have plenty of preowned last gen consoles, and a few OG X1 and PS4s!"



#50 strikeanywhere  

strikeanywhere

Posted 21 March 2020 - 03:27 PM

.

 

 

.

The real problem/issue: Gamestop is on the bottom of just about everyone's list if it resorts to buying online-only. The only insurance we had with their used stock was that we could exchange it in-store if needed. With that option gone, NO ONE will be choosing their garbage garage sale mystery selection over Amazon or eBay for used games.

Thank you, gentlefolk.

 

If you think about it, if more and more states go into lockdown (and stay in lockdown), the selection of used games for sale online will begin to dry up across all markets, except those that accept through-the-mail game trades. Prices could see a spike across the board.

 

Of course Gamestop's closure could lead to everyone sending their trade-ins to Amazon themselves so they could end up accidentally becoming a much larger force in the used game market.

 

As terrible as this situation is, there are always (ethical) methods of altering business models to fit the situation. Lots of the Youtube fitness folk are quickly putting out home, equipmentless workouts; the digital marketplaces seem to wisely be rolling out sales to grab attention.

 

We're in quarantine, it's awful, but that means the economy now largely shifts to internet-based models. We can make this work while still supporting (and not exploiting) each other, and creep carefully toward the light at the end of the tunnel.

 

Gamestop can absolutely make this work for them as well. The question is : will they?



#51 Das_Regal   oh god CAGiversary!   1339 Posts   Joined 12.5 Years Ago  

Posted 21 March 2020 - 05:59 PM

I don't see how Gamestop can make this work if their stores close, because they're in an uncomfortable middleground between the digital stores, amazon, and ebay.

 

If I want risk-free, instant shopping I buy digital games straight from the stores.

 

If I want fast-shipping or a huge selection, I buy Amazon.

 

If I want the cheapest prices, I buy Ebay or sometimes Amazon.

 

Gamestop's shipping cost sucks, 35 dollar minimum to get long-ass shipping? The only time they ever compete with Ebay is on old preowned titles...



#52 Vinny   Bang, bang... pew... CAGiversary!   24693 Posts   Joined 17.9 Years Ago  

Posted 21 March 2020 - 08:45 PM

Shit luck for them... in a time when people are told to stay indoors and could prob be playing a lot of games, GS can't take trades (a key source of inventory) or sell anything in most places. 

 

I don't feel too bad though... been screwed by their shit CS at least a few times the past 6 months. It sucks that if they do go under, I have 100K in pts I have to use that I'd lose but whatever. 



#53 Sugarbeats  

Sugarbeats

Posted 22 March 2020 - 03:00 AM

Shit luck for them... in a time when people are told to stay indoors and could prob be playing a lot of games, GS can't take trades (a key source of inventory) or sell anything in most places. 

 

I don't feel too bad though... been screwed by their shit CS at least a few times the past 6 months. It sucks that if they do go under, I have 100K in pts I have to use that I'd lose but whatever. 

They are closing storefront locations not already closed, starting this Sunday, the 22nd. They're going to be in a world of hurt after this outbreak...

 

http://news.gamestop...ustomer-service



#54 Demolition Man   REV-OH-LU-TION! CAGiversary!   14870 Posts   Joined 18.0 Years Ago  

Demolition Man

Posted 31 March 2020 - 01:07 AM

I predict Gamestop will be gone by 2021 at the latest. They are bleeding money hard right now even before the Coronavirus hit. It's going to be far worse for them with having to completely shut down stores in some areas and curbside only for the rest which will turn a lot of people away who want to walk in and browse. And going by my last few times going to Gamestop when I see more space in an already small space devoted for Funko Pops and stuffed Pokemon toys... their days are numbered.



#55 My life is garbage   Banned Banned   47 Posts   Joined 0.5 Years Ago  

My life is garbage

Posted 18 January 2022 - 11:37 PM

This thread is funny. Both the outbreak and GS are both around and neither are going anywhere.

#56 Squarehard   Nyaa~ CAGiversary!   21373 Posts   Joined 14.5 Years Ago  

Posted 19 January 2022 - 11:03 PM

nagatoro-anime-laugh.gif



#57 Daw19yoyo   CAG Player Extraordinare CAGiversary!   756 Posts   Joined 12.1 Years Ago  

Posted 25 January 2022 - 03:30 AM

nagatoro-anime-laugh.gif

Ah a man of culture I see.