Did you know… that TerraCycle has developed a new, on-line service where consumers can order their favourite products in reusable containers? Through this business model, consumers pay a $0.25-$10 deposit per product, and they are delivered in environmentally friendly, multi-use containers. When you’re done with the container, you simply send it back so that it can be washed, refilled, and eventually sent off to the next customer!
Dubbed ‘Loop’, the pilot project launched May 2019 in Paris, New York, New Jersey and Pennsylvania. According to TerraCycle founder Tom Szaky, while the products may have a 10-15% price increase through the service, it’s more appealing than traditional recycling methods because it’s more convenient and requires less effort on the part of the consumer.
The new Loop service is really taking off, with big names like Unilever, Coca-Cola, Proctor & Gamble, Nestlé and French supermarket chain Carrefour all making their products available through the service.
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