We may be fast approaching the moment when every day is Earth Day. Retailers have realized that offering on-site recycling services is not only eco-friendly, but also a good way to attract consumers.
Last week, Target (NYSE: TGT) and Whole Foods Market (Nasdaq: WFMI) both announced recycling programs. Target's adding recycling stations for plastic bags, bottles, cans, ink cartridges, cell phones, and MP3 players at the entrances of all of its stores. Target has other eco-friendly programs, too, including the ability to turn in DVDs and used electronics like Garmin (Nasdaq: GRMN) GPS devices and Apple (Nasdaq: AAPL) iPods for recycling, and receive gift cards in exchange.
Whole Foods said it's partnering with an organization called Cork ReHarvest to recycle wine corks, a service that will also be available at all of its stores.
Plenty of retailers already have recycling programs at their stores. Home Depot (NYSE: HD) accepts compact fluorescent lightbulbs (CFLs), Best Buy (NYSE: BBY) accepts a variety of consumer electronics, and Office Depot (NYSE: ODP) offers an ink- and toner-cartridge recycling program.
In theory, at least, sustainable practices matter to consumers. In a recent study conducted by retail consultant Miller Zell, 62% of shoppers claimed they cared about green factors when making unplanned purchases. Judging by Wal-Mart's hard-hitting environmental initiatives, that monster retailer's aware of the opportunities.
Clearly, it behooves retailers such as Target or Whole Foods to offer such conveniences, not only because eco-friendly initiatives go over well with green-minded consumers, but also to avoid losing business to rivals that offer the services.
These days, luring consumers in the door is essential for retailers, given the tough economy and tight budgets. Stepping up environmentally sustainable programs of all stripes seems like a pretty solid way for retailers to draw in shoppers -- and foster goodwill to boot.
Would you like to see more stores pursue green initiatives? Do you think they're just a waste of money? Let us know in the comments box below.
