Walmart Wants A Piece Of The Used Video Game Market
GameStop had better watch out. Walmart has announced that it will begin taking video game trade-ins at 3,100 stores across the U.S., attempting to tap into the $2 billion used video game market.
This is a new category for us. Weâ€™re doing it because our customers have asked us for it,â€ť Duncan Mac Naughton, Wal-Martâ€™s chief merchandising and marketing officer, told CNNMoney.
Starting March 26, video gamers will be able to trade in their games both in store and online. Games need to be in good condition and in original packaging. Hardware trade ins can only occur at the store itself. Gamers can then receive gift cards that can be used at any Walmart or Sam’s Club location to purchase anything.
GameStop has one focusâ€”video games, and for people looking to exchange their games for something more useful, Walmartâ€™s program is simply more lucrative for consumers.
Once the game has been traded in, Walmart then sends the games to be refurbished to like-new condition. They will begin to be sold this summer both in stores and online.
Trade-in values will range from a few dollars to $35, depending on the game title. Customers must be 18 years or older to take part in the program. Walmart has set up an exchange rate calculator to help potential customers with estimating their gamesâ€™ trade-in values.
Walmartâ€™s video game trade-in program is an extension of its already established tablet and smartphone trade-in program. Customers can turn in used devices and apply the trade-in value towards the purchase of a new device.
With Walmart entering the used video game market, it will allow gamers more options when trading in games, guaranteeing they receive the best value. Competition is always good for consumers, but Walmart has a history of squeezing smaller competitors out of the market. It will only take time to see how GameStop responds to this new development.