Yes, it helps save landfill space by keeping useful materials out. The amount of energy and natural resources needed to produce or collect the raw materials and manufacture the product is reduced.
The three R's, which include reducing, reuse, and recycling, all function by helping to cut down on the amount of waste that people throw away. That said, they help conserve landfill space, conserve natural resources, and energy, among others. It helps as it reduces environmental and economic waste in the process.