The Consumer Electronics Association estimates that this year global spending on consumer electronics will surpass $1 trillion for the first time. For many, these electronics are seen as necessities to help us be productive and stay connected, which may explain why more consumers are now upgrading their “old” electronics every six to twelve months as opposed to every few years as in the past. As a result of our spending habits, our older unused electronics are either left to collect dust or are sent to the landfill.
Each year, approximately 2.5 million tons of electronic waste (e-waste) ends up in landfills, and according to the U.S. Environmental Protection Agency only 25 percent of this gets recycled. There is no question that e-waste is harmful to our environment. It contains toxic chemicals including lead, mercury, arsenic, and cadmium, which threaten and contaminate the water we drink and the air we breathe. As demand for consumer electronics continue to rise, more and more e-waste will be sent to our landfills, but thankfully various companies are now seeing e-waste as a business opportunity. This is where e-waste recyclers come in.
The significant increase in e-waste has resulted in a rise in e-waste recyclers. According to the Institute of Scrap Recycling Industries (ISRI), the U.S. e-waste recycling industry generates $5 billion in revenue each year, up from less than $1 billion in 2002. However, a recent study by ISRI revealed that the industry’s future growth is dependent on reducing the barriers for consumers to recycle their household electronics. Although U.S. households account for the largest percentage of electronics in the market, these households only make up approximately 26 percent of the electronics recycling market. This means that if e-waste recyclers want to continue to expand, the solution lies in making it more convenient and worthwhile for consumers to drop-off their unused electronics. This is where the retailers come in.
Source: TriplePundit.com
By Ayaka Emoto