GameStop chief executive Ryan Cohen has said video game software now accounts for less than 12% of the retailer’s business, arguing that the shift towards digital-only games would therefore have little effect on its plans. His comments underline GameStop’s increasing reliance on collectibles rather than its traditional games retailing business, particularly as physical game releases face an uncertain future.

Cohen said collectibles represent more than half of GameStop’s business, with Pokémon trading cards and action figures reportedly helping it achieve record first-quarter profits. He made the remarks while discussing GameStop’s rejected $56 billion bid for eBay, maintaining that the company still intends to pursue an acquisition, though he would not say whether it would increase its offer.