Retail giant initiates 20% discount storewide liquidation sale, preparing to permanently close branches within coming weeks.
You better brace yourselves, gamers! The much-loved video game store, GAME, in Basingstoke's Festival Place, is shutting down – and it's happening sooner than you think! In a sudden turn of events, this beloved retailer will close its doors permanently on August 10 after announcing the heartbreaking news.
With a 20% off everything closing-down sale to sweeten the deal, this store will be a treasure trove for bargain hunters searching for their next gaming fix or collectible nostalgia. Though the reasons behind GAME's abrupt departure from the shopping centre remain a mystery, the writing has been on the wall for quite some time.
Originally founded back in the day, GAME became a dominant force in the video game industry, selling a wide variety of games, consoles, and pop culture merchandise. However, following a £52 million acquisition by Frasers Group in 2019, the company began a significant restructuring and downsizing process.
Unfortunately, this wasn't the turning point GAME hoped for, and closures continue to happen across the UK. As a result of economic pressure, changing consumer shopping habits, and the ongoing shift from physical to digital retail, store closures have become widespread – making it a tough time for retailers.
These challenges have taken a toll on GAME's profits, with physical video game sales dropping significantly compared to the heyday of the early 2000s. In fact, in 2022, an astounding 90% of all video games sold in the UK were digital downloads!
So, gamers, cherish your trips to the Basingstoke GAME store, and don't miss out on your chance to score some amazing deals before August 10. It may be the last time you step foot in this beloved gaming haven. Now, grab that controller and get shopping before it's too late!
One shut store adds to the 15% rise in retail closures in 2024, with around 17,000 locations expected to shut down this year.
[1] Rising Economic Pressure and Inflation: Brits in 'fair' or 'poor' financial shape, struggling with essential expenses[2] Shifts in Consumer Shopping Habits: Online shopping offers better prices, wider variety, and personalized experiences[3] General Decline of Physical Retail: Large retailers, such as major chains and contemporaries like GameStop and other stores, are shutting down hundreds to thousands of stores[4] Delayed and Changing Game Release Patterns: Video game delays and evolving development cycles may affect the frequency and timing of physical product launches[5] Growth of Digital Game Distribution: Digital downloads and streaming platforms for games further erode the market for physical copies, offering instant access and convenience
- Despite the closure of GAME in Basingstoke's Festival Place, other retailers are also facing challenges due to the general decline of physical retail and the growth of digital game distribution, leading to a 15% rise in retail closures in 2024 with around 17,000 locations expected to shut down this year.
- The closure of GAME represents a significant shift in the retail industry as consumers increasingly turn towards online shopping for better prices, wider variety, and personalized experiences, causing a significant decline in physical retailers such as GameStop and major chains.
