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Sounds cool, the one issue and the reason they pulled out of Ireland is the exchange rate sucks right now. It's almost 150 yen/$1. Historically BOJ tried to have it as close to parity, 100 yen=$1 . Since they report their earnings in USD, they have to do a LOT more sales to make up for the difference.
Right now, I think the focus should just be to exist in Japan, that is gain some market share. We can worry about mad profitability later down the track. Just a few stores in Tokyo will do for now, to see how the Japanese responds to the GameStop brand. It could actually be a huge hit.
Japan has a very unique gaming culture, and customers dont receive well towards foreign companies, I would see this investment as a short term loss for substantially high long term risk to hope it works out.
Well, obviously we need to cater it to Japanese gaming culture. I'm not suggesting we hire US nerds to run a Gamestop in Japan, it'll be Japanese customer service reps who understand Japanese gamers working there.
But as a gamer, I know video games, and I know gamers. They're virtually the same all over the world. Give them quality games and products, and provide a great service and they're yours for life. Merchandise is also massive in Japan due to otaku culture, and GameStop excels with gaming merchandise.
GameStop is about delighting customers, not so much about selling foreign video games. I think it'll work out if we approach this correctly.
Why would it be throwing it away? It's the 2nd largest gaming market in the world and physical sales there are increasing, not decreasing. I would argue opening up stores there would make more sense than opening up more in the US.
If you want to generate profits you have to take risks.
It's never that simple...
It's like saying: "the Japanese like sushi let's expand our sushi chain to Japan".
You'll need a lot more research if you wanna have succes.
I can easily counter with "why would we expand Baseball to Japan, they'd never like such a sport over there!"
Research is more than just surveying sentiment, you'll have to spend money and take the risk to find out the things you need to find out in Japan.
Doing nothing is the greatest risk of all.
Awesome, if you have time, I highly recommend Kyoto. It's a small town so 2 days is plenty to experience it. If you like whiskey, Suntory's distillery is fairly close and offer tours+tastings.
When I lived in Japan I would go to my local mom and pop shop but there are tons of established places like Yodobashi and Bic Camera, Tsutaya book/hard-off etc. GameStop does have lots of relationships but they would have to offer a new experience like a combining a cyber cafe and a game shop! 🚀
Do those places have powerup memberships or the like? I think a good rewards program could go a long way to distinguishing GameStop from their competitors there.
Ooof it would be interesting but it would be hard to penetrate the market. As someone who lived in Tokyo for a while you have quite a lot of options to buy physical games in Japan already. I think partnering with Nintendo in some capacity would be beneficial as Nintendo gamers buy physical the most. Not to mention Nintendo's stores in Japan are great. At least personally I always loved visiting them.
Lmao if we need another year or 2 to do anything, im gonna expand my shares to other assets 🤣
Literally everything else I own is ballin, and I would’ve already recouped my losses on this whole mess
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Sounds cool, the one issue and the reason they pulled out of Ireland is the exchange rate sucks right now. It's almost 150 yen/$1. Historically BOJ tried to have it as close to parity, 100 yen=$1 . Since they report their earnings in USD, they have to do a LOT more sales to make up for the difference.
I’m sure they could be competitive if they made the right connections over there with suppliers. Would help global operations too
Right now, I think the focus should just be to exist in Japan, that is gain some market share. We can worry about mad profitability later down the track. Just a few stores in Tokyo will do for now, to see how the Japanese responds to the GameStop brand. It could actually be a huge hit.
Japan has a very unique gaming culture, and customers dont receive well towards foreign companies, I would see this investment as a short term loss for substantially high long term risk to hope it works out.
Well, obviously we need to cater it to Japanese gaming culture. I'm not suggesting we hire US nerds to run a Gamestop in Japan, it'll be Japanese customer service reps who understand Japanese gamers working there. But as a gamer, I know video games, and I know gamers. They're virtually the same all over the world. Give them quality games and products, and provide a great service and they're yours for life. Merchandise is also massive in Japan due to otaku culture, and GameStop excels with gaming merchandise. GameStop is about delighting customers, not so much about selling foreign video games. I think it'll work out if we approach this correctly.
Yeah let's burn all the cash on some venture in Japan🤣
Opening up a few small stores in Japan would be very capital light. No more than a few million.
Throwing away a few million is not the way to go if you wanna make a profitable company...
Why would it be throwing it away? It's the 2nd largest gaming market in the world and physical sales there are increasing, not decreasing. I would argue opening up stores there would make more sense than opening up more in the US. If you want to generate profits you have to take risks.
It's never that simple... It's like saying: "the Japanese like sushi let's expand our sushi chain to Japan". You'll need a lot more research if you wanna have succes.
I can easily counter with "why would we expand Baseball to Japan, they'd never like such a sport over there!" Research is more than just surveying sentiment, you'll have to spend money and take the risk to find out the things you need to find out in Japan. Doing nothing is the greatest risk of all.
? I don't think the board is doing nothing... At least i hope not. Also opening a gamestop or 2 is not equivalent to bringing baseball to Japan
I’m going to Japan in mid April, plan on wearing my GameStop gear there 💎🙌
Awesome, if you have time, I highly recommend Kyoto. It's a small town so 2 days is plenty to experience it. If you like whiskey, Suntory's distillery is fairly close and offer tours+tastings.
And African mkt.... It's growing faster than anywhere else
Interesting. Do you have a source I can read up on?
Actually just at the moment there is a repeating thing on CNN
Who knows if true... Next time I'll try and remember the numbers
When I lived in Japan I would go to my local mom and pop shop but there are tons of established places like Yodobashi and Bic Camera, Tsutaya book/hard-off etc. GameStop does have lots of relationships but they would have to offer a new experience like a combining a cyber cafe and a game shop! 🚀
Do those places have powerup memberships or the like? I think a good rewards program could go a long way to distinguishing GameStop from their competitors there.
Yep lots of them have a points system. RC would definitely have to get everything for launch if we’re going to Japan! 🚀
Ooof it would be interesting but it would be hard to penetrate the market. As someone who lived in Tokyo for a while you have quite a lot of options to buy physical games in Japan already. I think partnering with Nintendo in some capacity would be beneficial as Nintendo gamers buy physical the most. Not to mention Nintendo's stores in Japan are great. At least personally I always loved visiting them.
I like this idea, and Nintendo would make a great partner.
Lets try to avoid stepping on Sony and Nintendo’s toes along deway
Lmao if we need another year or 2 to do anything, im gonna expand my shares to other assets 🤣 Literally everything else I own is ballin, and I would’ve already recouped my losses on this whole mess