GameStop Shutters More South Jersey Stores as Retail Giant Struggles

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GameStop, the once-dominant video game retailer, has announced the closure of 296 more locations this month, including three stores in South Jersey. The closures in Somerdale, Somers Point, and Deptford Landing are part of a broader trend that has seen GameStop lose 25% of its global footprint over the past 20 years, as consumers shift towards online gaming and digital downloads.

Why it matters

GameStop's struggles mirror the broader decline of physical retail, especially in the video game industry, as more consumers opt for digital purchases and online shopping. The closures in South Jersey are part of a larger shakeup in the regional retail landscape, with iconic brands like Blockbuster having already succumbed to these market forces.

The details

GameStop was founded in 1984 and at its peak in 2005 had over 4,200 stores worldwide. However, the company's performance began declining in the mid-to-late 2010s due to poor investments and the consumer shift away from physical video game sales. Just last year, the company closed 600 locations, and now an additional 296 stores are set to close this month, including three in South Jersey.

• GameStop was founded in 1984.
• By 2005, GameStop had expanded to over 4,200 stores worldwide.
• GameStop's performance began declining around the mid-to-late 2010s.
• In 2022, GameStop closed 600 locations.
• In January 2023, GameStop announced the closure of 296 more stores, including three in South Jersey.