The Circular Economy - US - February 2020
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This report discusses the circular economy as it relates to various retail categories. The circular economy differs from traditional, linear models of retail and refers to an alternative method of buying and selling goods, intended to extend the life cycle of products. It covers consumers’ attitudes, preferences and shopping behavior related to alternative methods of purchasing and owning products, including using rental services and reselling. In addition to retailers that exclusively operate rental or reseller models, this report will also discuss how other retailers, traditionally operating in linear retail methods, are entering into the circular economy.
"Circular retail options (eg rentals and reselling) aren’t just a trend; they’re a new way of shopping consumers will consider more often and for a wider variety of purchases. Although it’s difficult to determine the size of the circular market, one thing is certain; interest is high across many categories both in renting and resale. Pride of ownership is decreasing and giving way to more flexible options that are not only sustainable, but allow consumers to focus on experiences over goods, something that many view more valuable than owning or buying new. Expect to see more retailers enter the market, both on their own or through partnerships, and as retailer expansion continues, so will the types of products offered."
- Alexis DeSalva, Retail & Apparel Analyst
This Report looks at the following areas:
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