Apple is expected to launch its latest iPhone on Tuesday, but it is not the only huge company making an announcement about iPhones.
Walmart is taking center stage as well. The largest retailer in the world is expected to unveil the details of a large trade-in program. The soon to be announced program is the largest brick and mortar program of its kind for smartphones in the U.S.
The program comes at just the same time of the new release of iPhones. Starting on September 21, in over 3,600 Sam’s Club and Walmart locations consumers will be able to receive instant credit that ranges from as little as $50 to as much as $300, for their trade-in for over 100 different smartphones.
The credit then can be applied immediately to purchase a new smartphone. The smartphones traded in must be in good condition to qualify for the highest value of credit.
A Walmart executive said the program’s best part is its simplicity. The company does not intend to nitpick over scratches on the phones or it they have stickers on them. Only five basic questions will be asked when determining the trade in credit.
The questions include: Does the phone turn on? Is there a crack on the screen? Have the security codes been removed?
As the competition for wireless business heats up, Walmart has paid attention to recent data from an online market researcher that says over 55% of consumers are expecting to trade-in their smartphones the next time they decide to upgrade their devices.
Even more important, 62% said they would consider going to another retailer if a better deal were available for their trade-in.
The latest quarterly earnings report showed a decline in same store sales at Walmart in the entertainment category. However, wireless sales were once again a standout as a sub-category.