With record players, film cameras, and vintage video games all back in style, a struggling staple of Canadian malls is hoping that a dose of nostalgia can turn things around.
Driving the news: French-Canadian entrepreneur Stephan Tetrault is buying GameStop Canada and, as one of his first orders of business, will change the 185 Canadian locations back to their original name, EB Games.
- EB Games has been in Canada since 1993, but was rebranded in 2021, long after it was sold to GameStop.
Why it matters: With an outdated business model, leaning into the early 2000s feel of EB Games could be a smart play. As Don Draper would tell you, nostalgia can be a powerful way to sell a product, and browsing for video games in-store is something that Millennials — who now have salaries instead of weekly allowances — have fond memories of.
- Retro video games, in particular, have made a big resurgence as of late, with some likening it to the renewed popularity of vinyl records.
- Brands like Polaroid and Nintendo have had recent success returning to old-school products (not to mention the success of resurrected movie franchises like Top Gun).
Yes, but: EB Games faces an uphill battle. The glory days of video game stores aren't coming back — last year, physical game sales were half of what they were in 2021. Still, with the right touch, EB Games could carve out a piece of the market for enthusiasts and collectors.—LA