GameStop (GME) stock jumps 20% following MSFT retail platform deal – Idaho Reporter

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GameStop (GME) stock jumps 20% following MSFT retail platform deal

Few days ago I sad that you should buy GME stock before it hits $25.

Seems like first step toward this number is taken as Gamestop (NYSE:GME) announced that they signed multi-year contract with Microsoft (MSFT) regarding Microsoft’s integrated retail technology platform.

 

Through this partnership, GameStop will standardize the Company’s business operations on Microsoft’s cloud solutions and hardware products to “deliver rich new digital experiences to customers”.

The partnership includes enterprise and commercial elements.

  • Under this agreement, GameStop will standardize its back-end and in-store solutions on Dynamics 365, Microsoft’s portfolio of cloud-based business applications and customer data platform, empowering associates with integrated experiences across its business operations including finance, inventory, eCommerce, retail and point of sale. This will enable store associates the ability to access omni-channel insights about customer preferences and purchasing history, real time information on product availability, subscriptions, pricing, and promotions in order to provide a differentiated and personalized in-store customer experience.
  • Additionally, associates will be equipped with new Microsoft Surface devices that will transform the in-store experience and help unlock new retail experiences in the future. The mobility of Microsoft Surface will allow associates to move freely within the store footprint, meeting the needs of customers faster and more efficiently. Microsoft Surface devices have already been an important part of the digital modernization strategy for store management.
  • As part of its transformation, GameStop plans to roll out Microsoft 365 and Microsoft Teams to its stores, empowering more than 30,000 store associates with enhanced productivity and collaboration tools. With Teams, store associates will more easily be able to ask questions and share insights with one another, enabling them to provide a better customer experience. Associates will also benefit from enhanced security and identify management capabilities.  
  • Following decades as an essential provider of the Microsoft Xbox gaming platform and services, GameStop has expanded its Xbox family of product offerings to include Xbox All Access, which provides an Xbox console and 24 months of Xbox Game Pass Ultimate to players with no upfront cost. GameStop and Microsoft will both benefit from the customer acquisition and lifetime revenue value of each gamer brought into the Xbox ecosystem.

George Sherman, GameStop’s CEO, stated: “This is an exciting day at GameStop as we announce the advancement of an important partnership that capitalizes on the power of our operating platform and significant market share in gaming to accelerate our digital transformation; drive incremental revenue streams; and over time, further monetize the digital world of gaming. Since joining the Company last April, we have been on a mission to evolve our strategy to take advantage of our undisputed leadership position in gaming. Clearly, GameStop is a top destination for an entire spectrum of gaming products, and we are excited about the opportunity to leverage our capabilities in support of the launch of the next generation of gaming consoles and expand our reach and connection to the worldwide gamer community through this partnership.”

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