Walmart dips into trade-in market this month, selling used games in summer

The used game market just grew immensely, as Walmart announced plans today to begin taking video game trade-ins across the United States, putting itself in direct competition with GameStop. Starting March 26, those trading their games in at more than 3,100 Walmart stores will receive a gift card usable at any Walmart or Sam's Club location in exchange. All exchanged products are then "sent to be refurbished and made available for purchase in like-new condition starting this summer."

The retailer will accept online trade-ins for all games, but will only allow in-store exchanges for hardware. Walmart provided an exchange rate calculator on its website to give customers an idea of trade-in values. As for functional hardware, when including all the accompanying cables and one controller, the Xbox One has a current trade-in value of $390, the PS4 is $375, the Wii U Deluxe is $120, a 3G-enabled Vita is $95 and 3DS XL is $105. Working copies of Grand Theft Auto 5 currently exchange at $27.72, Dead Rising 3 is $38, the PS4 version of NBA 2K14 is $35.42 and Super Mario 3D World is $38.

[Image: Walmart]

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BENTONVILLE, Ark.--(BUSINESS WIRE)--Walmart is giving the more than 110 million gamers across the U.S. a new way to unlock value in their current purchases and save even more when it comes to one of the fastest-growing forms of entertainment.

"Gaming continues to be an important business for us and we're actively taking aim at the $2 billion pre-owned video game opportunity"

Starting Wednesday, March 26, customers will be able to trade in their video games and apply the value immediately towards the purchase of anything sold at Walmart and Sam's Club, both in stores and online. The traded-in games will then be sent to be refurbished and made available for purchase in like-new condition at a great low price.

"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 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."

How it Works

Walmart's video game trade-in program is easy.

Customers bring their working video games, in the original packaging, to the electronics department.
Associates scan the UPC code on the case and evaluate the game for obvious damage such as deep scratches or cracks.
The customer is then provided with a trade-in value for each game to accept.
The total value accepted by the customer is awarded immediately and can be applied at checkout in a Walmart store or Sam's Club, or online at Walmart.com or SamsClub.com
Available at more than 3,100 Walmart stores nationwide, the new trade-in service will accept thousands of games for popular consoles like the Sony PlayStation3 and Microsoft Xbox 360. Trade-in value will vary.

Certified Pre-Owned Video Games in Stores Later this Year

Later this year, Walmart customers will also be able to purchase pre-owned video games in stores and on Walmart.com. The video games will be labeled "Certified Pre-Owned" which means the product is fully refurbished and in like-new condition.

"While new releases will remain the focus of our gaming business, we're glad to give our customers the option to buy pre-owned games," added Mac Naughton.

Walmart's Trade-In Continues to Grow In-Store and Online

Walmart's in-store video game trade-in program builds on its existing trade-in offerings. In-store, customers can trade in tablets and smartphones and apply the trade-in value towards the purchase of a new device. Online at www.walmart.com/gadgetstogiftcards, customers can receive credit for a larger range of products such as MP3 players, cameras and laptops, in addition to smartphones, tablets and video games.

More information about the new video game trade-in service can be found on the new Walmart blog at http://blog.walmart.com or at http://news.walmart.com/videogames.

About Walmart

Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, more than 245 million customers and members visit our 10,955 stores under 69 banners in 27 countries and ecommerce websites in 10 countries. With fiscal year 2013 sales of approximately $466 billion, Walmart employs more than 2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com