by Christopher Freeburn | March 18, 2014 9:45 am
On Tuesday, Walmart (WMT) made video game fans very happy.
The nation’s largest retailer announced that, starting on Mar. 26, customers can trade-in used video games at its Walmart and Sam’s Club stores nationwide. Previously, Walmart permitted some video game trade-ins through its online store, but with restrictions, USA TODAY notes.
Under the new plan, Walmart will offer store credit only for video game trade-ins. Walmart sells video games and video game consoles, meaning that gamers will be able to use that store credit to buy new video games, if they wish. Walmart plans to begin selling “certified pre-owned” video games at its brick-and-mortar and online stores later this year.
A Walmart executive said that the retailer wants to “actively take aim” at the used video game market, which is estimated to be worth $2 billion. With the new program, Walmart joins other retailers offering used video game trade-in programs, including Amazon (AMNZ), Best Buy (BBY), GameStop (GME) and Target (TGT).
WMT stock slipped slightly in Tuesday morning trading. By contrast GME stock tumbled more than 3%, while AMZN, TGT and BBY stock climbed slightly.
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