The world’s largest retailer will begin taking consumers’ old video games in exchange for gift cards on March 26. Wal-Mart said its new service will allow customers to trade in games for credit they can use to shop for other goods in stores or on the company’s website, walmart.com. The program will roll out in more than 3,100 Wal-Mart stores nationwide.
Wal-Mart executives said the service will accept an unlimited number of games for consoles such as the Sony Playstation, Microsoft Xbox, and Nintendo Wii so long as they are in original packaging and undamaged. The trade-in value—which could be used to by anything from groceries to gasoline—will range from a few dollars to $35, depending on the title’s age. Customers must be 18 years or older to participate, the company said.
The retail giant is hoping to tap into the $2 billion pre-owned video game market. Duncan Mac Naughton, Wal-Mart’s chief merchandising and marketing officer, told CNNMoney, the company estimates that there are nearly 1 billion unused video games sitting in homes across the United States. “This is a new category for us. We’re doing it because our customers have asked us for it,” he said.
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