Wal-Mart Stores, Inc. (NYSE:WMT) is going to start buying used video games from customers as part of a new in-store video game trade-in programing. Credit will be given to the participating gamers. The credit can be used towards buying goods from Wal-Mart, Sams Club, and its online stores. The traded-in games will be refurbished and offered for re-sale.
?Gaming continues to be an important business for us and we?re actively taking aim at the $2 billion pre-owned video game opportunity,? stated Duncan Mac Naughton, chief merchandising and marketing officer for Walmart U.S.. ?When we disrupt markets and compete, our customer wins. They?ll save money on video games and have the flexibility to spend it however they want.?
This new program is a blow to video game retailers like GameStop. GameStop operates under a similar model where credit or cash is given in exchange for video games. Other retail stores that have trade-in programs established already include Best Buy, Amazon.com, and Target.
The in-store trade-in program will start at Wal-Mart on March 26th.