In a move that has been anticipated for some time, big box retailer Best Buy has jumped into the used game business, reports gamesindustry.biz. Best Buy will apparently be using a kiosk system similar to that now employed by Wal-Mart.
Used game trade leader GameStop is not bothered by the new competition, however. A spokesperson for the retailer told the Fort Worth Star-Telegram:
GameStop understands that trading in used games and consoles is a highly-assisted activity. We are very confident in our business model that allows our expert associates to help consumers trade in product, a fact not addressed with a self-serve process.
Meanwhile, gi.biz reports that analyst Colin Sebastion of Lazard Capital Markets sees no threat to GameStop with Best Buy's move into used:
While we believe that Best Buy’s entry into the used video game market will create a new overhang on shares of GameStop, we expect Best Buy’s initiative to expand the used videogame market rather than take significant share from the speciality channel.
GP: With the Best Buy announcement we can expect the obligatory round of hand wringing from certain game publishers and developers.