Wal-Mart is jumping into the world of video game trade-in’s starting next week. CNBC is reporting the retail giant will start accepting used video games in 3100 of its stores. Customers trading in the games will receive an eGift card good towards the purchase of anything online or in store. Wal-Mart also has plans to resell those same video games in its stores once they have them refurbished by CE Exchange, the same company that does Wal-Mart’s tablet and smartphone refurbs.
“We aren’t participating in the $2 billion used gaming opportunity at all right now,” saidDuncan Mac Naughton, chief merchandising and marketing officer for Walmart U.S., during a conference call with reporters that announced the news.
The trade-in business can be very lucrative for businesses as they often offer far below what you could actually get if you sold it outright. It’s not unlike selling a used car. The trade-in business is optimal if you are seeking to make a high gross profit. So be aware before you trade your games in, you’re likely not going to get what you think they are worth. But at the same time, you are saving yourself the headache and legwork of selling the product yourself.
So with one of the nation’s largest retailers getting into the video game trade-in market, we shall see what that does to one of the biggest players out there right now. That ‘s Gamestop. Gamestop is surely keeping a real close eye on this whole thing. What do you think about Wal-Mart getting into the trade-in game? Perhaps with such a large player entering in we may see others raise the amount they offer for games in an effort to compete with Wal-Mart? Let us know what you think in the comments below or on Google+, Twitter and Facebook.