Perhaps most importantly, the company has recognized that notwithstanding all the noise, people still really like to go to stores. The company uses the data gleaned from PowerUp Rewards members to drive personalized recommendations and suggested trade-in values for games and even helps the company decide effective demographics for new store openings. PowerUp Rewards members drive 3 times the sales of non-PowerUp Rewards members and a somewhat stunning 5 times the profitability.1 in 5 people in the US are in the program.Launched in 2010, the PowerUp Rewards loyalty program boasts some pretty impressive statistics: Let’s take a look at the PowerUp Rewards program and its success to date. It turns out that a big differentiator for the company is its in-store customer experience and its tailored loyalty program, PowerUp Rewards.I believe that GameStop provides a valuable model for 21st Century retailing in general – combining the personalized experience of the past with the technology available today. We are likely entering sacred days for ThinkGeek, as we plunge into the Halloween season.īut separate lines of business and web sites are not enough to make for a successful enterprise. ThinkGeek also just opened its first retail store in Orlando, Fl. It’s even got a separate site for its own licensed products,. I don’t think it’s the place for Hummel figurines, but for all things games, they’ve got it right there. Dying for a Darth Vader plush toy or a unique Monopoly set? Get it at the company’s collectibles site. It is the single largest reseller of all Apple products and services. These stores operate in secondary markets where Apple has chosen to not open its own Apple stores. It also owns a chain of Apple reseller stores called Simply Mac. Its Spring Mobile wireless business is the single largest AT&T wireless reseller (also selling its “Cricket: ” contract-less solution). Ever heard of the web site ? That’s a GameStop property. It is a digital/mobile publisher, in the top ten. It maintains its leadership as the retailer with the highest market share in video games, but it also has its fingers in several other pies. It is a $9 billion specialty retailer with fingers in a lot of pies. It really should also list as well, I think.Īs it turns out, GameStop is alive and well. In some ways, you could argue GameStop bricks and mortar retail stores are in an even trickier situation: Yahoo Finance lists a somewhat intimidating set of direct competitors including Best Buy, Walmart, Dell, Target, Sears, Costco and others. If you mention the company GameStop to a casual observer and talk about its success story, they are likely to reply something to the effect of “Didn’t all that business move on-line? ” The implication is that in the digital age, stores selling computer gaming equipment are anachronisms. It’s an object lesson in surviving and thriving in a world where logic says you shouldn’t really succeed. Editor’s Note: This article originally appeared in Forbes, but it seems really relevant to our retail readers as well.
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