U.K. home improvement chain B&Q is drawing up plans to lease some of its construction tools to customers rather than sell them, as it eyes a more sustainable business model, The Independent reports.
Ian Cheshire, chief executive of Kingfisher, B&Q’s parent company, said last week that the chain was in the early stages of developing a drill with recyclable parts. Under tentative plans, customers would return the used drill to B&Q and it would then be recycled by the company, rather than being sent to a landfill.
“We are rethinking processes and business models for the future. We have to adapt and look at all our products and our overall business model,” Cheshire told the Independent. “There is certainly a rise in the green consumer. But customers are now less willing to pay a premium for it. They want green and sustainable products, but they don’t want them to be more expensive than the norm. We have had to adjust.”
In June, Kingfisher announced that it had been shortlisted as a finalist in the Responsible Retailer of the Year category of the 2011 Oracle World Retail Awards.
Earlier in the year, B&Q UK was highly commended at the UK-specific Retail Week Awards in the Responsible Retailer of the Year category.