2020 is a time of transition. Economies are shifting, politics has invaded every sphere of life apparently, and the way we work and relate to each other is moving into a more remote and digital direction.
What does this mean for game stores, where up until now the fundamental value was in the face to face experiences customers had in store?
The first thing to realize is that we’re not going back to the way things were, at least not anytime soon.
The sooner you accept that as a reality the better positioned you are to start asking yourself better questions and taking action to adapt to the “new normal”.
Since we’re still in the early days of this economic storm, here are a few things that you can do to batten down the hatches.
Increase Efficiency
Now is the time to do some major analysis of your game store’s numbers. Take a look at your expenses and for each line item ask yourself “do I really need this right now?”. Break down your product lines and identify which ones are under performing and start making some cuts. Tighten up the ranks and reduce your overhead, even a small reduction is costs will make your game store more resilient to the constantly changing environment.
Increase Support
What can you do to support your employees right now? Look into what programs are available for you to tap into to keep your team employed, you can find some valuable resources for that right here.
Get Connected
Build genuine relationships with your customers and connect with them online. Customers who see you as more than just the NPC behind the counter are more likely to support your business when you need it. Kylie Prymus’ interview on the podcast is a great example of how a game store can thrive, even under our current conditions, by creating genuine relationships with your customers.
Connect with them on Facebook and add them as friends from your personal profile. Be open to conversation even when there is no chance of a sale. The more value you put into the relationship the more value you’ll get back in return, either in the form of additional sales or referrals.
Get Online
If you’ve been waiting on getting your game store online because you don’t think you can compete with the likes of Amazon, now is the time. Actually, 5 years ago was the time but now is the second best option.
Online spending was already trending upwards before Covid-19 made it explode, and not all of that money is going to big box stores and Amazon. The game stores that have done well during the crisis, some of which positively thrived, were already set up to take advantage of the ecommerce trend. They had their inventory online and their existing customer base knew where to find them.
Build your platform and get the word out that your game store is selling in the ways that customers are expecting from businesses now. There are a number of options that don’t require extensive coding or design skills like Shopify and Square, find one that you like and get started.
Learn More
Game stores that put in the effort now to adapt to the changes impacting the world are going to be the ones that come out on top. The storm will pass and eventually we’ll get back to rubbing shoulders and slinging cardboard with friends, but for now we need to evolve.
After economic contraction comes expansion again, and making these changes will only put you into a better position whenever that day comes.
If your game store looks after its customers and employees in the process, then it will come out the other side with an unfair, hidden advantage.
If you want to learn more about growing your game store in 2021 and beyond then you need to get your FREE ticket to the LGS Success Summit! We’ve got three days and 18 sessions of content covering everything from financing your store, becoming a WPN location, and branding and marketing your store, to getting online and the future of the industry.
