Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a account? Log In

Thoughts on GameStop & AMC

Ethan Chernofsky
February 1, 2021
Thoughts on GameStop & AMC

To be clear, the stock price surges for GameStop and AMC had little, if not nothing, to do with their offline traffic, online traffic, or any other normal metric. However, they do provide a good opportunity to take a deeper look at two brands in flux.

The Current Reality

Obviously, the loss of offline visits didn’t help either brand, with AMC feeling the brunt of the pandemic. Visits for the brand have been recovering, but never saw a visit gap smaller than 76.6% when comparing monthly visits year over year. Now this is understandable considering the unique impact the pandemic had on theatres and on the wider film sector.

For GameStop, the situation was also challenging. While the brand did recover to see the visit gap down to just 19.9% in August, the resurgence of COVID cases returned the visit gap to 27.1% in November and 24.1% in December.

Overall, 2020 saw monthly visits down 72.1% and 27.8% on average year over year for AMC and GameStop respectively. Yet, these numbers don’t tell the full story for either brand. For example, in January and February, the two brands saw the average monthly year-over-year gap as low as 0.7% and 2.1% respectively. While nothing to brag about, it was a much better start than many expected following a year where the same monthly average visit gap was 8.3% and 2.9%. 

The Optimist’s Case

These numbers are critical as they present a scenario where things may not be rosier than ever before, but certainly don’t guarantee doom. And this is important as it helps underscore why there could be real reason for optimism, even though both brands need to evolve.

For GameStop, the optimist’s thesis would likely center around the growing popularity of video games and the simultaneous growth in eGaming. This idea that an activity as digitally oriented as gaming could have a real offline pull may be novel, but it’s gaining traction. Should GameStop prove capable of leveraging this to create a more experiential in-store feel that makes a visit exciting enough to offset ordering online, there’s a real chance for growth. In fact, if done properly, it could position the chain in a better direction than it’s had in a long time.

For AMC, the optimistic case would likely center around a few things. Firstly, in periods of economic uncertainty, movies become an affordable means of escape and getting out of the house. And while COVID will hopefully end soon, the economic consequences will linger far longer, creating an opportunity for the chain to fill that role. Secondly, the ‘theatre’ concept has certainly not been maximized. While big blockbusters are an obvious draw, a subtle tear-jerking drama may actually be better consumed on Netflix at home. But what about sports? What about blockbuster TV shows and premiers? There’s a huge opportunity to expand the focus of theatres to reach into new areas where group viewing is a huge draw. Finally, the theatre doesn’t need to be a limited idea. Focusing on more upscale experiential viewing could create more bang for buck for visitors and the chains themselves - presenting premium opportunities where the advantage of theatre-viewing is enhanced.

The Pessimistic Perspective

For both, the pessimistic case centers around outdated concepts. We don’t need a video game store to buy video games and why go to the theatre when we have Netflix, Disney+, and seemingly 6,000 other digital streaming platforms. Obviously, there’s more to it than just this, including the costs of keeping stores running, but that’s the central challenge they’re looking to overcome.

Where Will It Go…

Like most other retail narratives, we need to be careful not to go for the simplest explanation, as it often obscures as much as it reveals. Both AMC and GameStop are facing significant challenges to reaching their fullest offline potential. Yet, both have opportunities in front of them that could lead to very successful futures. In both cases, it will likely rely on a mix of leveraging brand relationships they already have, while simultaneously pushing the boundaries of what they provide to create more evolved and enticing experiences.

Will it be easy? No. Is it possible? Of course.

Will these brands drive a turnaround? Visit to find out.

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Free
Oops! Something went wrong while submitting the form.
Digging Into Darden: Q2 2024 Update
2024 Retail and Dining Trends Update
TRU and avid: Midscale Hotels on the Rise 
Diving Into Kroger: A Strong Start to 2024 Mall Index: May 2024 Recap – Mall Visits on the Rebound Office Index: May 2024 Recap
2024 Memorial Day Recap
Las Vegas: A Tourism and Migration Deep Dive
Eatertainment Chains: Full on Food, Fun, and Foot Traffic
The Promise of Luxury Apparel
Catching Up With Ulta Beauty & Gap Brands
Ollie’s Bargain Outlet and Five Below: Q1 2024 Treasure Troves
CAVA Still Going Strong
Driving Success: Auto Parts Chains in 2024
Checking in With DICK’S Sporting Goods
Mother’s Day Shopping and Dining Trends Mall Index: April 2024 Recap – Retail Resilience Heading into Spring
Dollar Stores Still Gaining Momentum
Off-Price Apparel Chains After Q1 2024: Demographics in the Balance
Walmart, Target, and Wholesale Clubs Continue to Thrive
Home Improvement and Decor Check In Office Index: April 2024 Recap – Recovery Continues
Movie Theaters in Q1 2024: A Preview of Coming Attractions?
Let’s Get Physical: Fitness In 2024
Where Are Workers Returning to Office in 2024?
2024 Wins: Sweetgreen & First Watch on the Rise
A Full-Service Turnaround: Bloomin’, Dine, and Texas Roadhouse
Wendy’s and Denny’s: Breakfast and Late Night Dining Drives Success
Coffee Chains: Q1 2024 Update and What’s Changed Since COVID
Checking in with RBI and YUM!
Chipotle & McDonald's Serving Up Success
Wingstop & Shake Shack Continue Growing Their Reach 
Strong Start for Sprouts in 2024
Crocs’ Footwear Fairytale
Who Attends NCAA Final Four Events?
Eclipse Fever: How Did the (Retail and Hospitality) Stars Align?
Exploring Albertsons Companies’ Grocery Growth Mall Index: March 2024 Recap – Malls Rise Again Office Index: March 2024 Recap
Florida Spring Break Break-Up? Travelers Still Love Florida!
Provo-Orem and Ogden-Clearfield Emerging As Utah Hotspots 
Three Formulas for Experiential Retail in 2024
Aldi & Lidl Making The Cut
Texas Suburbs on the Rise
Exploring Luxury Hotel Brands’ Guest Segmentation
The St. Patrick’s Day Effect
How Can JOANN Make a Comeback?
Panera Bread Well Positioned for Possible IPO
Who Will Benefit From Family Dollar’s Downsizing?
Dave & Buster’s and Main Event Entertainment: Food and Fun for Everyone
Darden Brands: Location Analytics and Consumer Behavior
Nike and lululemon: a Strong 2023, Sprinting into 2024
Where Is Retail and Dining Foot Traffic Thriving in Early 2024? White Paper Recap – February 2024
Three Retail & Dining Chains That May Surprise in 2024
Specialty Discount Chains Rock Retail Therapy Mall Index: February 2024 Office Index: February 2024 Recap
Ulta Beauty Continues To Shine
First Watch Sails Into 2024
Hibbett Sports and DICK’S Sporting Goods: A Psychographic Analysis
Checking in With Discount & Dollar Stores
Peeking Behind The Curtain: Movie Theaters in 2023 and Beyond
Diving Into Brick-and-Mortar Eyewear
Getting Into Gear: Exploring The Auto Part Industry
Recapping Valentine’s Day 2024 Foot Traffic Trends
Fitness: A Strong Start to 2024
Dutch Bros. Continues To Percolate Visits
Super Bowl 2024:’s Postgame Foot Traffic Analysis
CAVA & sweetgreen Are On the Rise
Hats Off For Off-Price
Who Is Shopping at Malls?
Drilling Down Into Home Improvement
Walmart, Target, Costco & Superstore Space 2023 Recap
Catching Up With Shake Shack and Wingstop
Something To Chew On: Demographic Shifts at Steakhouse Chains Office Index: Looking Back at 2023
Recapping RBI & Yum! Brands’ 2023 Foot Traffic Performance White Paper Recap – January 2024
Who Shops at Anthropologie and Urban Outfitters?
Three Taco Chains to Watch in 2024
Starbucks and Dunkin’: 2023 in Four Data Points
Who Visits CVS and Walgreens?
Fashionably Frugal: Apparel in 2023
Catching Up With Fast Food
The Grocery Sector in 2023: An End-of-Year Recap
3 Mall & Shopping Center Trends for 2024
Bakery Chains Rising To The Top and Esri Partner to Deliver Geospatial Analytics
Tampa Tourism Trends
Going For The Green: The Changing Dynamics Of Country Clubs
Christmas Day Dining Recap
Major Urban Shopping Districts – Holiday Season Recap Office Index: December 2023 Recap
Recapping the 2023 Holiday Shopping Season White Paper Recap – December 2023
7 Retail & Dining Segments to Watch in 2024
Diving Into Holiday Season Favorites
Super Saturday and Christmas Eve Eve: A Winning Combination
3 Budget Grocery Chains Finishing 2023 On a High Note