Game Digital continues multichannel and digital-first strategy
Game Digital today said that multichannel and digital were strategic priorities as it continues to move from being a business that predominantly sells products to one that sells products and services.
At the same time, said the gaming retailer, a Top100 retailer in IRUK Top500
research, it is developing its new business activities, including e-sports and competitive gaming, events and digital services. It is trialling e-sports and competitive gaming activities in UK stores and local communities. In July it opened its first in-store gaming zone.
Martyn Gibbs, chief executive of Game Digital, said: "We continue to focus our efforts on maximising the potential of our core retail markets; driving operational improvements and efficiencies across the business; and developing our broader consumer and enterprise gaming services to support deeper engagement with our customers, communities and supplier partners.
"Next year will see several significant industry developments, with new console launches, the arrival of new ground-breaking virtual reality devices, as well as continued strong growth in competitive and social gaming.
"We are well positioned to benefit from these exciting developments and have clear plans in place to drive our retail businesses forward whilst developing our strategic initiatives to support future growth."
The update came as the retailer unveiled falling sales, with gross transaction value (GTV) of £914.1m down by 5%, or £48.3m, across the group in the year to July 23 compared to the previous year. In the UK alone, GTV was down by 10.8%, and in Spain it was up by 12.4%, calculated in sterling. Store numbers fell to 580, from 592 a year ago. Game in the UK ended the year with 313 stores, down from 319 last year.
Digital content GTV grew by 15.5%, while sales of preowned technology products (+65.1%) and accessories and toys-to-life technology (+19%) also up. Sales from new consoles and hard copy content were down.
The company said that it expected profits to meet current market expectations.