How GameStop Rollovers Competitors during the Holiday in Sales
There are dark days ahead for video game retailers. Wal-Mart’s holiday sales fell short of expectations, but at least they hung on to post a 1.6% gain on last year’s December numbers. Best Buy watched its Entertainment Software (including our pride and joy, video games) sales decline by 12.2%. With the worst holiday shopping season since 1970 behind us, how did GameStop, the world’s largest video game and entertainment software retailer, manage a 22.3% increase over last year’s sales?
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No matter how well (PlayStation 2) or poorly (GameCube) your system is doing sales-wise, about five years of technological advancements tends to make anything on a current-generation system look like old news. Thus, the major video game hardware providers have more-or-less adopted the “five year rule,” meaning that they will release a new console every half-decade. Up until now, gamers have been able to rely on this rule to base whether or not they should commit to a system or wait for the next inevitable iteration.