Electric scooter business model
Today we will take a closer look at one of the most popular monetization models. The electric scooter business model. We’re big fans of this model as you probably saw in our YouTube short:
We have already discussed business models in our previous blogs. Check one of them!
So this time we’re not going to go into the details explaining the model. Instead, we will focus on one company that has managed to monetize its business using the electric scooter model.
LimeLoop
LimeLoop is a US-based company that aims to make deliveries without waste.
A perfect solution for e-commerce brands that ship apparel, beauty products or crafts.
The company focused on figuring out a way to replace single-use disposable card boxes. In the age of internet shopping and door-to-door deliveries, the use of unsustainable boxes that usually were thrown away after unpacking the contents seemed like a problem that needed a revolutionary approach.
Reusable package
LimeLoop has achieved its aim by introducing a multi-use smart box. Foldable and made out of recycled materials, this new, improved packaging option offers more than a regular card box. The packaging is made from upcycled billboard vinyl – a lightweight, water-resistant upgrade to cardboard.
The company based their business model on renting these boxes and sending them to whomever needs a durable, revolutionary solution.
First of all, the packaging is durable and comes in various shapes and sizes. This helps in saving space and not ‘shipping air’.
Furthermore, the packaging is equipped with sensors that allow it to track the environmental impact of the package using a custom app. On their website, LimeLoop shows data on how their innovative packaging reduces CO2 emissions and water use.
The App
As LimeLoop’s packaging is a part of the IoT family there exists an app that allows to track the packages merry way through the world. The app offers insights into environmental conditions in which the package finds itself like temperature, it also reports when the package was opened.
Finally, after its purpose is done the packaging is returned to you and ready to be used again.
The Process
The whole process of replacing traditional packaging with LimeLoop is fairly simple.
As described on LimeLoop’s page:
https://thelimeloopshop.com/pages/faqs
‘In just 3 easy steps, your reusable packages are ready for use:
- Communicate your reuse program with internal stakeholders, such as your e-commerce operations team, fulfilment team, and marketing and PR team.
- Manage your reuse program through your existing e-commerce platform. If using Shopify, our LimeLoop Shopify app makes it easy
- Create SKUs for reusable packages for inventory management
- Set up customer programs or incentives around reusable packaging
- Add instructions and reminders to customers for returning the packages
- Include prepaid return shipping labels for customers
- Launch your reuse program by going live with fulfilling orders in reusable packages.’
And that is it. A simple solution that works and is good for the planet.
A good idea for monetization?
LimeLoop has managed to find its own niche IoT way in the e-commerce world. Reinventing packaging and making it more sustainable than the way it was done certainly managed to intrigue companies concerned about environmental issues. Monetizing sustainability is not only a trend but an inevitable way of doing business in the future. Reducing the impact of packaging on the environment and being able to see how much savings it was able to generate is a game changer. In the foreseeable future more companies might use LimeLoop or develop their own solutions. Maybe we will see a return to more eco-friendly packaging in other sectors of the economy. And replace plastics by multiuse, biodegradable, trackable containers.
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