“What About My Store Credit?”- as GameStop Loses $100 Million in the Last Quarter of 2022, Gaming Community Has a Massive Uproar

GameStop has been a video game, game merchandise, and electronic destination for over three decades. However, the retailer is facing a rapid revenue decline for the past couple of years. The third quarter of 2022 is ending soon, and GameStop is expected to continue its economic downfall.

GameStop has lost $100 million dollars in the past three months. We can see a massive uproar among the gaming community as GameStop’s third-quarter earnings look bleak.

Fans are taking to social media to express their views on the decline of GameStop’s Value

The news of GameStop getting financial backlash has become a point of discussion among the community. The retail giant’s net growth in the third quarter of 2022 is $1.186 billion. This is much less, or more than a $100 million loss, compared to $1.297 billion, which was their previous year’s last quarter net growth.

GameStop’s inventory value also recorded a slight drop. $1.14 billion dollars was valued during the third quarter of last year. This year, it was reduced to $1.13 billion.

Many people have expressed their thoughts on social platforms regarding this deteriorating condition.

Many among the public responded to GameStop’s current state as a result of the retailer’s ‘not-so-comfortable’ customer relations. Numerous people have even expressed ‘delight’ with the retailer’s current condition.

Some fans are dejected with the store credit they currently hold that GameStop provided them. The tension of whether it would go to waste if this declining state of the retailer continues is causing upset among the members of the gaming community.

GameStop had also begun its own NFTs and was invested in the crypto market. But, the current state regarding these ventures has also not shown rays of hope for them.

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The transition from retail to the digital market is a strong reason for the drop in their customer base.

The retail giant has recently laid off many of its workers in hopes of generating positive revenue. Mainly, engineers from the crypto wallet and e-commerce departments were laid off.

GameStop has responded to these rumors of them going under and released a statement that included their financial report for the year. According to them, they are coming back to pace after the backlash that they received in the past years. Only time will tell if the retail giants will sustain themselves in this digitally driven space. Or whether they would go under like Blockbuster and RadioShack?

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