Starting an online video game store can be an exciting venture for gaming enthusiasts looking to turn their passion into a business. With the global video game market continuing to grow, there’s never been a better time to dive into this digital retail space. This guide will walk you through the essential steps to launch your own online video game store. Keep reading!
Why Start an Online Video Game Store?
Explosive Industry Growth
The video game market is on track to surpass $112 billion in value by 2025, solidifying its place as a major force in entertainment. This impressive growth makes the gaming industry an attractive option for investors looking for high-potential sectors to grow their capital.
Technological Advancements and Innovations
The online gaming sector is a hotbed of innovation, continuously pushing technological limits to create captivating and state-of-the-art experiences. What began with live dealer games has now expanded to incorporate virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) into gaming platforms. As smartphones and tablets become more advanced, the mobile gaming market presents a prime opportunity for investors. For an online video game store, these technological advancements mean offering the latest and most immersive gaming experiences to customers, ensuring they stay at the forefront of the market’s growth and innovation.
Multiple Investment Options
The online gaming sector presents diverse investment avenues beyond simply backing technological innovations. While investing in companies developing cutting-edge gaming tech is one strategy, it’s far from the only option available to savvy investors in this space. For example, investing in an online video game store can be a lucrative opportunity, as these stores benefit from the growing demand for new and popular games, accessories, and related services, all while capitalizing on the latest advancements in gaming technology.
The Rise of Cryptocurrency as a Payment Method
The online gaming industry has experienced ongoing growth because it embraces emerging trends. The industry consistently leverages the latest technological advancements to keep its users engaged and entertained. The incorporation of cryptocurrencies as payment options has been a recent success for the industry.
Expansive Reach and Market Accessibility
The online betting market is highly accessible and operates globally. Unlike traditional, geographically limited industries, an online video game store can function across worldwide markets, offering investors the ability to engage with diverse demographics and revenue streams.
Resilience in Economic Downturns
History has shown that when the economy struggles, people tend to seek out entertainment and recreational activities as a means of escape. This fact, combined with the relatively stable demand for online betting and gaming, makes the online betting market a potentially resilient investment option during times of economic downturns. Similarly, an online video game store can also be a stable investment, as the demand for engaging and immersive gaming experiences remains strong, providing consistent revenue opportunities even in challenging economic conditions.
Why Should You Choose BigCommerce to Start Your Online Video Game Business?
BigCommerce is an ideal eCommerce platform to build your online video game store, thanks to its following advantages:
- Ample Digital Storage: Running out of space is a common issue with self-hosted platforms. BigCommerce offers unlimited bandwidth and large file support, ensuring you never have to worry about running out of room for your digital game files.
- Seamless Shopping Cart Experience: BigCommerce’s “Guest Checkout” feature allows customers to complete purchases without having to fill out extensive personal information fields. Additionally, the checkout process remains on your site, providing an efficient, streamlined experience to minimize the risk of customers abandoning their carts.
- Extensive Payment Gateway Integrations: BigCommerce supports over 65 pre-integrated payment solutions, covering 230 countries and 140 currencies. This includes popular options like Apple Pay, Adyen, Visa Checkout, and Amazon Pay, providing your customers with a wide range of convenient payment methods.
- No Hidden Transaction Fees: Unlike some platforms that charge additional fees for not using their proprietary payment providers, BigCommerce merchants can use their preferred credit card provider without incurring any hidden transaction fees.
Overall Process to Start an Online Video Game Store
If you’re looking to dive into the video game industry, starting a game store can be an exciting way to get involved in one of the world’s most popular and rapidly evolving sectors. To help you get started, here’s the ultimate guide to launching a successful video game store.
- Research Your Market: Begin by conducting thorough research into the competition in your local market. Identify the latest gaming trends and determine which titles you’ll want to stock in your store.
- Choose the Right Location: Your game store’s location can make or break your business. Ensure you choose a spot with easy customer access and ample space for your shelves, gaming setup, and future expansion.
- Establish Your Business: Complete the necessary paperwork, and acquire the required business permits and insurance policies before opening your doors. This will ensure everything is in order when you launch. There are various powerful BigCommerce automation tools that can help you very well.
- Find Reliable Suppliers: Secure partnerships with dependable suppliers who can provide you with the latest games at competitive prices. Then, you can maintain an impressive and up-to-date inventory.
- Create a Distinct Brand Identity: Utilize design tools to develop a strong visual identity for your store, including graphics and logos. This will help establish brand recognition and make your business memorable.
- Promote Your Store: Advertise your game store both online and offline to spread awareness and attract a loyal customer base.
- Build a Dedicated Community: Foster customer loyalty by hosting tournaments, offering discounts, and organizing special events. This will help turn your store into a hub for gaming enthusiasts.
- Expand Your Offerings: As your business grows, consider branching out into other areas such as digital downloads, used games, console repairs, and more to diversify your revenue streams.
How to Start an Online Video Game Store on BigCommerce
After you’ve completed the foundational steps outlined earlier, it’s time to build your video game store. This phase is often one of the most exciting, as it allows you to express your creativity and bring your vision to life.
- Choose a Template That Connects with Your Business and Customers
When selecting your online store template, keep the nature of your product offerings in mind and choose one that best represents your brand. It’s also helpful to research what others have to say about the templates you’re considering. Remember to narrow down your options, as some platforms offer hundreds of template choices.
- Set Up Payment Gateways
Payment gateways are merchant services that process credit card transactions. Popular options include PayPal, Stripe, and Square. Integrating multiple payment methods into your online store is crucial to providing customers with convenient checkout options.
- Add Your Content and Products
Once you’ve completed the design process, you’ll be ready to populate your store with your game offerings. Be sure to create exciting, SEO-optimized product descriptions that accurately and compellingly showcase your products.
- Establish a Clear Return and Refund Policy
A well-crafted return policy can put visitors at ease and build trust. Displaying your return policy on your site can increase the likelihood of customers making a purchase, as it demonstrates your commitment to their satisfaction.
In Conclusion
By following the comprehensive guide outlined above, you now have the knowledge and tools necessary to turn your video game retail dreams into a reality. From conducting market research to establishing your brand identity and building a loyal customer community, each step is critical to the success of your online video game store.
As you set up and grow your business, consider leveraging Atom8’s power to streamline your operations and amplify your marketing efforts. GritGlobal Apps’ sales and marketing automation capabilities can help you optimize your BigCommerce storefront, automate workflows, and engage your customers more effectively for your online video game store. Contact us today!
