Amazon Launches Used Video Game Trade-In Program
Amazon.com has announced it will allow customers to trade-in used videogames for credit on its site, a move that will challenge game retailer GameStop.
The company has launched Amazon Video Games Trade-In in beta. "Our video game trade-in process is easy. Go to www.amazon.com/tradeingames and discover games that you want to trade among hundreds of titles," the Amazon Game Room’s Blog states.
"Once you’ve found your game, print off a prepaid shipping label (no cost to you), drop it in the mail, and you’re done. Once games are received and verified, an Amazon.com Gift Card will be deposited into your Amazon.com account. You can spend that Amazon.com Gift Card towards the purchase of millions of eligible items at Amazon.com."
For those who try Amazon’s new trade-in program, during the first two weeks of the beta launch, the company is offering 10 percent off future purchase of any game or accessory in it video games store.
"We believe the primary risk to GameStop from Amazon’s initiative is greater competition for inventory of used games, and the potential for trade-in values to increase," game analyst Colin Sebastian of Lazard Capital Markets wrote in a note Thursday.
"Our survey of 10 games on both sites suggests that the Amazon merchant is offering a slight premium to GameStop for a number of trade-ins."
Amazon says it new trade in program will continue to evolve over time and it is asking for customer feedback about making improvements.