Best Buy Considers Entering The Used Game Market
If you want to trade in your games now, your options are fairly limited. But Best Buy wants to change all that.
In addition to the corporate rumors that Best Buy may be interested in purchasing GameStop, another interesting tidbit has arisen out of this discussion. According to The Wall Street Journal, Best Buy CFO Ryan Robinson stated that his company hasn't tapped into the used game market, and this is definitely holding them back. Robinson calls used games a "very margin-rich portion" of the market and said there's "opportunity in that business." They may embark on this endeavor rather than attempting to acquire GameStop because as BloggingStocks.com points out, Best Buy would need $4.2 billion to make the purchase and they quite simply don't have that kind of cash. They also wouldn't see a return on that investment "any time soon," so perhaps Best Buy is better off simply taking a cue from the competition. There's no secret that GameStop has profited greatly from used game sales, although publishers aren't too happy about the practice. Sell it once, everyone gets the rewards; sell it more than once, only GameStop benefits.
But that's why Best Buy wants in, of course. So don't be surprised if you suddenly see a trade-in policy for video games at your local store.
9/22/2009 10:41:12 AM Ben Dutka