Wal-Mart takes on GameStop in the used games market

Walmart is one of the biggest retailers in the U.S., certainly one that is most frequented by millions of customers everyday. The retailer is now expanding into a new territory while offering its customers more bang for their buck. Walmart has confirmed that it is now going to accept video game trade-ins from March 26th. This means that it will take in a customer’s used video game and offer them a gift card. The gift card would be good to purchase anything at Walmart or Sam’s Club.

Wal-Mart Stores Inc will allow U.S. shoppers to trade in used videogames for anything from groceries to gadgets, a move that could dent the profit of GameStop Corp, the largest dealer of used videogames. GameStop shares fell as much as 6 percent in morning trading, making it one of the top percentage losers on the New York Stock Exchange. Wal-Mart said on Tuesday its trade-in service will accept games for popular consoles like the Sony Corp’s PlayStation3 and Microsoft Corp’s Xbox 360, and customers can in return buy anything at Walmart and Sam’s Club. “Gaming continues to be an important business for us and we’re actively taking aim at the $2 billion pre-owned videogame opportunity,” Duncan Mac Naughton, chief merchandising and marketing officer for Walmart U.S., said in a statement.