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Why You Should Offer a Take-Back Program for Your Old Products

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Countries around the world are enacting legislation, known as extended producer responsibility regulations, to make companies more accountable for the end-of-life phase of their products. While companies may fear that these take-back programs would lead to increased costs that drive away consumers, new research suggests differently.

A series of studies and field experiments have shown that consumers value a product more highly when it’s part of a take-back program, show a greater willingness to pay, and don’t require any additional purchase incentives.

, aren’t waiting for regulations and have initiated take-back strategies that allow consumers to return used products to be put back into the production cycle. Other companies have hesitated, fearing that the increased cost of such programs will have to be offset by higher product prices that drive away customers.

 

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