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With the recent passing of Earth Day, businesses are reminded that environmental programs are not only good for the planet, but attract customers as well. Retailers have realized that on-site recycling services are bringing in more patrons.
Just this month Target announced an extensive recycling program. Target has placed recycling stations at the entrances of all its stores, which accept plastic bags, bottles, cans, ink cartridges, cell phones and used MP3 players. They have launched a gift card program that rewards customers for turning in used DVDs, laptop computers, GPS devices and iPods for recycling. Target gives customers an incentive to use reusable shopping bags by taking five cents off the total purchase amount for every bag used in an order. Finally, Target has partnered with TerraCycle to deliver a rebate program – mail in five plastic bags in exchange for one dollar towards the purchase of a reusable bag. TerraCycle then turns the plastic bags into eco-friendly products.
Other retailers are catching on with their own recycling programs. Whole Foods is offering a recycling service for wine corks, while Home Depot accepts used compact fluorescent light bulbs. Best Buy and Office Depot are also recycling electronics and ink cartridges for customers.
Why are so many retailers following the recycling trend? Clearly, retailers are instilling recycling programs to appeal to eco-friendly consumers and to increase sales, but they feel they must offer recycling to avoid losing business to rivals that offer the services.
In the competitive retail industry, businesses need all the competitive advantage they can get, whether it’s drawing in customers through recycling incentives or coming up with other innovative methods. Smart Advantage specializes in helping companies identify or create competitive advantage. As a consulting, training and education based group, Smart Advantage works with businesses to develop a competitive strategy that will increase sales. Use the Smart Advantage tools to take the free competitive advantage self audit form to see if your company possesses an edge.
Tags: Competitive Advantage, competitive advantage self audit form, competitive strategy, create competitive advantage, increase sales, Smart Advantage tools, training
