CEO Ryan Cohen of GameStop revealed that the company is adjusting its strategy, reducing dependence on hardware and focusing on trading cards and collectibles, potentially accepting cryptocurrency payments in the future.
He emphasized that the role of cryptocurrency is not just as an investment but also as a tool to combat inflation, while also valuing the potential for using cryptocurrency in actual transactions.
MAIN CONTENT
GameStop is adjusting its strategy, prioritizing trading cards and collectibles over hardware.
Cryptocurrency is viewed as a solution to combat inflation and a potential trading tool.
The company has not selected a specific token and will cautiously evaluate all types of cryptocurrency.
How is GameStop adjusting its business strategy in the context of rising costs?
CEO Ryan Cohen confirmed that rising costs forced GameStop to minimize reliance on hardware and shift focus to trading cards and collectibles. This trend is based on market demand analysis and aims to optimize profits during periods of volatility in the electronics retail sector.
Cohen shared with CNBC that expanding into the trading card market helps GameStop increase product diversity, catering to consumers who are seeking collectible value rather than hardware. This strategy has been deemed reasonable by many experts as consumer trends change rapidly.
Why has cryptocurrency become the focus of GameStop's payment plans?
Ryan Cohen stated that cryptocurrency is not merely an investment tool but also an effective means to combat inflation, especially during volatile economic periods like the present. He emphasized that there is a significant and practical demand for applying cryptocurrency in transactions.
"Apart from the investment role, cryptocurrency is also a means to hedge against inflation, creating opportunities and is part of GameStop's product development strategy."
Ryan Cohen, CEO of GameStop, interview with CNBC, 16/07/2023
Accepting payments in cryptocurrency for trading cards and collectibles is seen as a suitable move to meet the demands of the modern market, while also contributing to increased flexibility and attractiveness for customers.
What criteria does GameStop use to choose and evaluate cryptocurrencies?
Company representatives confirm that GameStop has not yet decided on a specific token and will conduct a comprehensive evaluation of popular cryptocurrencies on the market. This reflects caution and a commitment to ensuring credibility when applying new technologies.
They will focus on criteria such as liquidity, stability, widespread acceptance, and integration capability to select the most suitable cryptocurrency for future payment operations.
"We will evaluate all types of cryptocurrencies before making a decision, to ensure they align with business and customer needs."
Ryan Cohen, CEO of GameStop, CNBC, 2023
Frequently Asked Questions
What product is GameStop focusing on instead of hardware? GameStop prioritizes trading cards and collectibles due to rising hardware costs, according to CEO Ryan Cohen.
Why does GameStop want to accept cryptocurrency payments? Cryptocurrency is both an investment tool and effective in combating inflation, helping to increase transaction convenience.
Has GameStop chosen a cryptocurrency yet? The company has not selected a specific token and is in the process of evaluating various options.
Is cryptocurrency really used by many people for transactions? According to reports from financial experts in 2023, the use of cryptocurrency for transactions has grown significantly due to liquidity and security.
Does GameStop's new strategy have potential for growth? Retail industry assessments indicate that focusing on trading cards and accepting cryptocurrency helps GameStop adapt better to the modern market.
Source: https://tintucbitcoin.com/gamestop-xem-xet-thanh-toan-tien-dien-tu/
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