Amazon Expands Trade-In Program
Trade-in programs are nothing new; a wide variety of
retailers are offering variations on the theme. Amazon.com also offers a trade-in
option, but as is its way, the e-tail giant is looking to one-up the competition
with what it believes is a better offer.
Yesterday, Amazon announced the launch
of its Electronics Trade-In Store, which allows consumers to send in a wide
variety of electronic devices, including cameras, cell phones, GPS devices,
MP3 players, tablet devices and more. The electronics program is added to the
company’s existing trade-in offer
on items such as DVDs, textbooks and video games.
The company offers an
online guide to items it accepts as trade-ins (previous purchase at Amazon
is not required) and the relative value based on product condition. All trade-ins
can be arranged through a single point on the Amazon site and multiple items
can be shipped to the company for free. When a customer trades in an item,
they receive an Amazon gift card deposited in their personal account in return.
"Technology is constantly evolving and newer, better versions of consumer
electronics are introduced all the time," Paul Ryder, vice president of
electronics for Amazon, said in a press release. "We want to give customers
the opportunity to get great value from their used electronics. Hundreds of
thousands of customers have already received millions of dollars in gift cards
from the other products in our program. The electronics category is a natural
extension and we are delighted to offer our customers more trade-in options."
Discussion Questions: Are trade-in programs becoming basic to retailing today, at least in categories such as electronics? What can retailers that offer such programs do to set themselves apart from the competition?