Walmart Wants Your Old Video Games

Published 03/18 2014 01:45PM

Updated 03/18 2014 01:50PM

BENTONVILLE, Ark. -  Walmart is launching a new program that lets people trade in their old video games. 

Starting next Wednesday, customers will be able to bring in old Playstation, Wii, and Xbox games.

You don't get cash. Instead, customers will receive a Walmart gift card, likely worth anywhere from a few bucks to $35.

So even though it's a way for gamers to get something out of an old item, it's also a way for Walmart to keep people coming back into the store.

The new initiative is being watched closely by GameStop. That company gets a lot of business from the pre-owned category. About 20% of its holiday sales were used games.

Amazon, Target and Best Buy also have video game trade-in programs. All in, it's a $2 billion industry.

So Walmart has some serious competition. The retailer says there are still nearly a billion pre-owned games sitting homes across the country and jumping into video games makes sense now that the store is doing iPhone trade-ins as well.

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