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Imagine that, instead of buying a TV, laptop or mobile phone, and worrying that it will become outmoded, you could lease it, knowing that you could easily upgrade to the next new thing.
We're not there yet, but Best Buy, the nation's largest electronics retailer, with nearly $50 billion in annual revenues, today took a step closer to a subscription model for electronics by offering a Buy Back plan, which invites shoppers to "future-proof" their new gear -- for a price, of course.
They'd pay an upfront fee -- say $69.99, for a laptop or tablet -- and then get 10 to 50 percent of the value of the product back if it's returned within two years, assuming normal wear and tear.
This is smart business for Best Buy, which has struggled lately, and it's good for the planet.
"What we are really after here is stickiness," said Brian Dunn, the CEO of Best Buy, when we spoke by phone this morning.
The Buy Back program encourages repeat business because consumers who bring back gear they no longer want are paid with a Best Buy gift card.
I met Brian Dunn in 2009 when I wrote about sustainability at Best Buy for FORTUNE. (See Best Buy Wants Your Electronic Junk.) The topic then was Best Buy's rollout of free or low-cost recycling, not just for its own products, but for most electronics.
Today's announcement moves closer to closing the loop in the electronics industry. Instead of throwing away unwanted gear, consumers who participate will have an economic incentive to return it to Best Buy, where it can be refurbished, resold or recycled into something else. Electronic waste is, of course, a global problem.
What's driving the Buy Back idea, though, is consumer anxiety, Brian told me. The plan grew out of lots of listening to consumers, not just in traditional focus groups but in their homes and other places where they use gadgets.
"They are very excited about what technology can do, but they are very apprehensive about the rate of change," he said.
"They want the newest thing, but they don't want to see their neighbor show up with something cooler in a few months," he explained.
For me, this program is far
For me, this program is far away from being green (not to mention bold green). Pushing people to renew their gadgets instead of trying to lengthen their lifes it's just the opposite from what I consider taking care of the planet. We're running out of petrol, iron, copper and other metals in a few decades. We need to save energy and valued materials for coming generations. Renewing our gadgets because our neighbours have whatever is a nonsense.
There are many other options
There are many other options for disposing of old electronics for those who don't want to pay up front or only be able to keep their new electronic for two years max. There are many disposal firms who will offer you money for your used electronics without having to put money down and even if it is more than two years old.
This is like a buyback
This is like a buyback program: they'll pay you $10 for your several months old iPhone (I'm just pulling number out of the air here) and resell it on eBay or in their stores for $100. Great deal for customers! You'll find much more of the same sentiment across various tech blogs.
I'm not a fan of the big box
I'm not a fan of the big box stores, but something like this is at least a step in the right direction. Most of them are far from sustainable though.