A few stores are experimenting with buy-back programs as a way to incentive return of used products no longer needed. The companies either recycle, refurnish or resell the products.
The programs are becoming more popular because companies are realizing that giving a small financial incentive like 5% or $20 off a new purchase drives users to spend more at the stores. In addition, companies make a small profit by re-selling the raw material back to manufacturers.
Users in turn benefit from knowing their old product will not go to waste, and from the financial incentive. Overall this is a win-win experience.
It would be nice to see more brands doing it. These are some of the examples I found:
Mass Save: offers $75 back for returning used refrigerators https://www.masssave.com/en/shop/recycling/refrigerator-and-freezer-rec…
Apple buy back: https://www.apple.com/shop/trade-in
Best Buy has a trade in program: https://corporate.bestbuy.com/trade-recycle-old-tech-enjoy-new/
Eileen Fisher claims to take lifetime responsibility for their clothes) https://www.eileenfisher.com/renew
John Lewis piloted a buyback of clothes, sofas, matreses and appliances. It even helps coordinate product pickup: https://www.theguardian.com/business/2018/jun/18/money-for-old-socks-jo…