Mike is the Former CEO of GameStop, the gaming retailer with over 5,500 stores globally and $8bn of revenue. In 2005, he joined GameStop as the Global Distribution and Logistics President before leading Gamestop International, where he was responsible for over 2,000 stores and 12,000 employees, from 2010-18. Prior to GameStop, he enjoyed 20 years building and running retail and supply chain operations for companies such as Fisher Scientific, Mattress Discounters, and Electronics Boutique. Mike now advises various startups and lectures at universities throughout the US.
The easy pieces were, you wanted to be able to sell private label products which are a really nice margin. You want to be able to sell collectibles and you try to tag on digital. Then it comes to used which is always a battle. You put those four things together, that’s where you get your margin. I’d say in general with accessories and collectibles, it was very successful. Used has just been a slaughter.
That’s a good question. There’s a piece of the used market that the consumer really appreciates because they can trade in their games and they can get trade credits and so on. At the same time, it’s difficult for people to remember to bring in your old games. I’d even say for myself, my 13-year-old, he’s probably got 100 old games in his playroom, and trying to remember to take those games into Game Stop is not easy. Hell, I trade in my own better than anybody. Yes, I think consumer awareness and getting people to know that it’s a viable option is the key.
Exactly. It comes in handy the most when I always say 70 percent of new videos games are released in the fall. The average gamer doesn’t have the money to spend $60 ten times over between October and December. The advantage is, you buy the game and then you can trade it in for 30 bucks. 30 bucks is about right depending on the game, and then you get another game. It’s not a complicated proposition.
I wouldn’t say it only suits the hardcore gamers, I’d say the hardcore gamers are the most astute in terms of taking advantage of the program. Again, if you go into your kid’s bedroom and there are like 25 Nintendo games, taking those, wrapping them up and bringing them to the store and going to Game Digital for example and just trading them in is a huge advantage to you. People just don’t think about it.
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Mike is the Former CEO of GameStop, the gaming retailer with over 5,500 stores globally and $8bn of revenue. In 2005, he joined GameStop as the Global Distribution and Logistics President before leading Gamestop International, where he was responsible for over 2,000 stores and 12,000 employees, from 2010-18. Prior to GameStop, he enjoyed 20 years building and running retail and supply chain operations for companies such as Fisher Scientific, Mattress Discounters, and Electronics Boutique. Mike now advises various startups and lectures at universities throughout the US.