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Wednesday, January 12, 2011

A new chapter in return policies? has launched a new return policy: When you’re done reading the book, they’ll buy it back. Early returns justified a wider application of the program, according to today’s newsletter from Springwise. Click here to read the full story.

It seems to me that this idea fits nicely into the consumer’s stronger sense of post-recession frugality, as well as the desire to be socially responsible (this is a form of recycling).

In another example of "own to rent," Target stores are offering credit toward used-up mobile phones, according to this recent story from Marketing Daily (click to link).

Implications: Auto dealers and tuxedo shops have been doing this for years… why not bookstores? I’m thinking about some retailers who sell rarely-used power tools (although many also offer a rental department), or other situations where single-use items are sold.

For more ideas, browse CraigsList a bit. There, you will find that consumers have plenty of ideas about items they have used but do not need to own, outright.

Any opportunities here for your company here (do you sell anything that is a one-time or rarely-used product)?

Mike Anderson

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