Electronics retailers in the U. S. are gearing up for a new eco-friendly electronics recycling reprogram, in an attempt to boost lagging sales and do their part for the environment at the same time.
So-called “big box” retailers, such as Best Buy and Wal-Mart have announced plans to incorporate a recycling program, allowing consumers to return old cell phones, MP3 players, computer hardware and nearly any other type of electronic gadget to receive store credit in the form of a consumer gift card. The amount of credit received will be based on the type of device returned and its condition.
Conveniently, consumers may return any electronic item, regardless of where they purchased it originally. The electronics recycling firm EcoNEW will handle collections and provide the in-store credit gift cards.
With the growing amounts of electronic “junk” clogging up our attics, garages and landfills, eco-friendly programs like those recently announced by Best Buy and Wal-Mart are likely to become more and more popular among retail electronics stores.
Other companies are offering a type of guaranteed buyback program, which is similar to the extended warranties already offered by some electronics retailers. The buyback program is in essence a type of consumer insurance against future upgrades that may render the electronics product out of date.
TechForward is one company handling guaranteed buyback programs for retailers. Their program boasts a respectable 12% conversion rate, and nearly 70% of the items covered under their buyback plan are eventually returned for a predetermined fee or store credit.
The US in general has been gradually shifting toward more ecological awareness over the last few years, and this trend is expected to continue after the 2008 presidential election. While George W. Bush has not been exactly friendly to environmental causes, all three of the remaining candidates for president, John McCain, Hillary Clinton and Barack Obama, all agree that global warming is a real phenomena, and that the United States should take more decisive action to protect the environment.
Along with this political change in policy — regardless of which candidate is actually elected president — is sure to come a cultural change toward greater ecological awareness. This cultural shift bodes well for companies promoting consumer recycling. And with Americans now buying and discarding electronic gadgets at an increasing rate, it makes good financial and ecological sense to provide incentives to recycle our discarded electronic “toys” for cash, instead of letting them continue to pileup in our closets and attics.
So far, American consumers seem receptive to the idea of recycling their aging electronics. It’s funny how many people will suddenly become “environmentalists” when they find out how much money they can save by trading in old electronic items.
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Wow, I had no idea there was such a huge market for recycled electronics! Very interesting!
Comment by Adam Hyman — March 27, 2008 @ 4:01 pm