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Wal-Mart to begin video game trade-in for store credit

Wal-Mart to Begin Video Game Trade-in for Store Credit

Mae Anderson

NEW YORK (AP) - Wal-Mart plans to expand its video game trade-in program to its stores, offering store credit for thousands of video games.

The world's largest retailer plans to let video game owners trade in used video games online and in Wal-Mart stores for store credit but not cash. The credit can be used in both Wal-Mart and Sam's Club stores. Previously they offered trade-ins on a more limited basis online.

It will also offer refurbished used games in its stores for the first time. Wal-Mart has been seeking new ways to boost revenue as its low-income customers remain under pressure due to a weak jobs picture and shaky economy. In its most recent fourth quarter, net income dropped 21 percent, and the Bentonville, Ark.-based company gave a subdued forecast for the current year.

"Gaming continues to be an important business for us and we're actively taking aim at the $2 billion pre-owned video game opportunity," said Duncan Mac Naughton, chief merchandising and marketing officer for Wal-Mart U.S.

In a call with journalists, Wal-Mart executives said CE Exchange, the company that Wal-Mart works with on its trade-in program for smartphones and tablets launched in the fall, will also be in charge of the new video game program.

The value for each trade-in video game will vary by the title, console and age of the game. The amount will range from just a few dollars for older games to $35 and more for newer ones.

Retailers from Amazon to Best Buy offer used video trade in programs, but the Wal-Mart's new program is the biggest threat to GameStop, which has the largest and most well-established video game trade-in program.

Wal-Mart made a point of saying that credit offered for video games can be used on anything from groceries to a new bike, rather than just other video games.

GameStop shares fell $1.84, or 4.6 percent, to $37.89 in morning trading. The stock had been down 19 percent since the beginning of the year.

But one analyst said the new program isn't necessarily a death knell for GameStop. Other retailers have tried to take business in the used game market with "modest" success, said Baird Equity Research analyst Colin Sebastian. In contrast, GameStop has consolidated its market share of video game retail sales and has loyalty among video game customers and a broad inventory of new and used video games.

"History suggests the competition is unlikely to capture meaningful share," he wrote in a client note.

Wal-Mart shares rose 23 cents to $74.92 in morning trading.


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crux101 March 19 2014 at 10:38 AM

DRAT...I thought it would be a Snuggie...

Flag Reply +1 rate up
karen and pitts March 19 2014 at 12:46 PM

man i'm investing this weekend on all the video games i can buy at garage sales for 1 to 2 dollars a piece.

Flag Reply +3 rate up
propickup March 19 2014 at 3:51 PM

that's great my grandson is bringing in 20 games. he wants to by some too.

Flag Reply +1 rate up
probert580 March 19 2014 at 12:16 PM

wal mart uuuugghhhh, remember when Sam walton was alive and he was proud that most items in the store were made in USA.................not anymore

Flag Reply +9 rate up
2 replies
tlmorgan45502 probert580 March 19 2014 at 1:49 PM

Can ya name a store where they are so ya barking up the wrong tree there.

Flag Reply 0 rate up
tony probert580 March 19 2014 at 3:37 PM

They gone chinese, like sears & k mart & target.

Flag Reply +1 rate up
nama holston March 19 2014 at 11:53 AM

Wal Mart is so big and bullying that it won't stop until it, like a vulture, eats every bit of flesh off the Mom and Pop, start-up small businesses, and even established suppliers which they "use" to get whatever price they (Wal Mart) wants, therefore giving them ALL the profit!!! Somehow they will reach critical mass and implode. One can hope!

Flag Reply +2 rate up
mphseason March 19 2014 at 11:25 AM

AOL...Please send WWW.ZEEJOB.COM a bill for advertising on AOL. This website is all over AOL, and not paying you a dime. If you let this be a constant thing, your going to loose subscribers...imo

Flag Reply +4 rate up
toddisit March 19 2014 at 11:16 AM

Sorry Gamestop, Wal Mart will be taking over your business now, haha.

Flag Reply +1 rate up
You Sexy Beast!! March 19 2014 at 6:16 PM

How many people save the PACKAGING??? It's a good gimmick, Walmart, but not very realistic

Flag Reply +2 rate up
1 reply
bpraywood You Sexy Beast!! March 19 2014 at 6:26 PM

What packaging? The case to store the disc in? Rarely are manuals included anymore.....

Flag Reply +1 rate up
Ghetto Cat March 20 2014 at 7:03 PM

WalMart is the big, 'no refunder on opened CDs' because people buy, copy and return them.

Flag Reply +1 rate up
JOHNNY 65 March 19 2014 at 10:08 AM

i HAVE THIS GAME CALLED PONG i WONDER IF IT'S WORTH $35.00

Flag Reply +3 rate up
1 reply
Mark JOHNNY 65 March 19 2014 at 10:51 AM

Much much more!

Flag Reply 0 rate up
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