What Led to the Closure of Disc Replay?
Closure of Disc Replay – Overview
Media and entertainment store Disc Replay has closed at NorthPark Mall and will move to the former home of Plato’s Closet, located at 5254 Elmore Ave., between the new Plato’s Closet and Verizon. According to Jake Allen, co-owner and general manager, ‘The main reason behind the move was because an opportunity presented itself on Elmore, next to Plato’s Closet and Style Encore (coming later this year) to create an ultimate buying and selling experience.’ He further explained that ‘all three in such close proximity, all three of which owned by the same owner, makes it a one-stop-shop for things everyone in the family can enjoy.’
Although smaller, Allen assured that ‘we are not cutting any categories that we already buy/sell and shouldn’t have an issue merchandising our current inventory into this space.’ A grand reopening event is set for 10 a.m. Sunday, May 25, which will feature giveaways, new releases, and appearances by 101.3 KISS FM and I-Rock 93.5.
Contributing Factors to Closure
While there isn’t a single, publicly stated reason for Disc Replay’s recent closures, the most likely contributing factors include:
- Digital Shift: With more people buying games digitally directly from platforms like Steam or PlayStation Store, the demand for physical discs has significantly declined.
- Online Competition: Large online retailers like Amazon offer a wide selection of games and movies at potentially lower prices, making it difficult for smaller physical stores like Disc Replay to compete.
- Economic Pressures: The overall economic climate, including rising operational costs, can also contribute to the closure of physical retail stores.
Are There Any Disc Replay Locations Still Open?
Disc ReplayTM locations still open in 2023 include:
- Bloomington, IL
- Champaign, IL
- Crest Hill, IL
- Downers Grove, IL
- Naperville, IL
- Orland Park, IL
- Rockford, IL
- Multiple locations in Indianapolis, IN
Each store has specific addresses and contact information available for inquiries.
Most Disc Replays are open Monday to Saturday from 10 AM to 9 PM, and Sunday from 11 AM to 6 PM. However, it is advisable to call your local store as some may have longer hours.
Disc Replay is a chain of retail stores that buy and sell used DVD movies, video games, music compact discs, and accessories. Established in 2008, the concept has quickly gained popularity.
For example, you can find:
- Disc ReplayTM Champaign2012 N Prospect Ave, Champaign, IL
- Disc ReplayTM Indy East9739 E Washington St, Indianapolis, IN 46229 (Located off E. Washington St, behind McDonald’s & Wendy’s, near Best Buy)
What Alternatives Are Available for Disc Replay Customers?
If you are looking for alternatives to Disc Replay for video game trade-ins, there are several options:
- GameStop: Generally, it is recommended to steer clear of GameStop due to their low trade-in values. For instance, they may offer only $2.75 for popular games like Witcher 3.
- Ebay: Selling your old games on eBay can yield better profits. You can get the full resale value, which might be significantly higher than trade-in values at game stores.
- Craigslist: This is another viable option for selling games individually or in bundles.
- Decluttr: A popular site for selling used items, including video games across various platforms like PlayStation, Xbox, and Nintendo.
- Amazon Trade-In: Allows you to trade in video games for Amazon gift cards.
- OfferUp, Swappa, and Gameflip: These platforms also provide opportunities for selling used games.
- Local Game Stores: Within a 50-mile radius, options include Game Lobster, Game Over Games, Super Smash Games, Pink Gorilla stores, Another Castle, and GameBound. These stores might offer better prices than GameStop if you prefer store credit.
Ultimately, the best choice will depend on whether you need cash immediately or are willing to wait for a potentially higher payout from platforms like eBay.
Is the Closure of Disc Replay Reflective of a Larger Trend in Retail?
In 2023, retailers shuttered over 4,600 stores, reflecting an 80% surge in closures compared to the previous year, according to Coresight Research.
The reasons for this increase are varied. They range from the bankruptcy of major retail chains to the closure of underperforming locations. Additionally, some retailers cited rising theft as a rationale for closing certain stores.
Meanwhile, a shift in consumer behavior is evident. More Americans are shopping online. Furthermore, inflation-wary shoppers are cutting back on purchases, particularly in categories like electronics and jewelry.
However, it’s not all negative news in the retail sector. Retailers opened almost 5,500 new stores throughout the year, which more than offset the number of closures.
Despite closures, dollar stores are flourishing in the U.S. In 2023, these retailers announced 1,600 new store openings, which represents about one-third of all new openings for the year. They have plans to target over 1,500 new stores in 2024.
Examining past trends, following the financial crisis of 2007-2008, U.S. retail experienced a record number of bankruptcies, but a degree of stability returned post-2010. Now, the industry is facing economic disruption due to the ongoing impact of the COVID-19 crisis, particularly affecting non-essential segments like department stores and apparel.
JCPenney serves as a notable example. The retailer emerged from the COVID-19 crisis with substantial losses, announcing the closure of 242 stores after its bankruptcy in May 2020.
The pandemic hit apparel and clothing retailers hardest. Overall, April 2020 saw a drastic decline in retail trade employment, dropping by more than two billion compared to the previous month.
At least 20 major retailers are closing U.S. stores in 2023, amounting to a total of 2,847 locations. Notable chains such as Rite Aid are planning closures, joining others like Amazon, Foot Locker (which will close 545 stores by 2026), Tuesday Morning, Bed Bath & Beyond, Gap, and Walgreens. These closures illustrate the ongoing transformation in the retail industry as e-commerce reshapes consumer habits.
For further insights, BDO’s Fall 2023 Retail in the Red Report examines retail bankruptcy filing data, store openings and closings, retail sales, consumer spending, and other economic factors shaping the retail landscape in 2023.
How Will Customers Handle Outstanding Credits After Closure?
According to their Facebook post, any outstanding credit will be available to use at Disc Replay in Champaign through the end of the year.
Beginning this Wednesday, any outstanding store credit will be honored at Disc Replay Champaign through December 31st, 2021.
