Circular Economy, from target to practice: our best picks!
Consumption Decoding
Circular Economy: to each lifestyle, its level of commitment!
The analysis of the ten strategic targets identified by Echangeur through the 14,000 individuals interviewed in the framework of the Access Panel 2020 Belgium, Spain, France and Portugal shows that not all consumers have yet integrated similarly the circular economy in their consumption practices. There are notable differences in their appetite for Consumer-To-Consumer or mobility-related services, their interest in leasing services, or the importance given to price and sustainability criteria in their purchasing decisions.
As Caroline Veyret-Prudhon and Chloé Brogini presented during the webinar “How does the Circular Economy fit into the consumption practices of Europeans?” , five strategic targets stand out in terms of appetite for the Circular Economy: Wealthy Families, Carefree Young Adults, Evolving Couples, Tactician Families and Golden Middle-aged.
But in concrete terms, what do they expect from brands and retailers at the moment? What circular services should they put in place to retain them in the short and medium term? To help you, Elisabeth Menant, Matthieu Jolly and Nicolas Diacono have scrutinized their recent initiatives and offer you an overview of their favorites of the moment.
To each target an answer in favor of Circular Economy by brands and retailers
Wealthy Families
These wealthy, urban families with one or more children under the age of fifteen are the champions of circular consumption! They are sensitive to societal and environmental issues and, thanks to their purchasing power, can bring their consumption in line with their commitments.
With its Färmoscore on the price labels, the Färm organic store cooperative helps them to choose products that have a maximum positive impact on the environment, society and economy.
The MoralScore app goes even further. It helps them consume more ethically. It is enough for the consumer to mention the values that matter to him and the application will tell him the companies that respect them and those that do not.
This target is service sensitive. Hence the idea of Whering to help them to best associate their clothes once the virtualization of their wardrobe realized. A way to fight fast-fashion.
Ralph Lauren recently launched his subscription offer with The Lauren Look. For $125 a month, the customer subscribes to a box service. Once his virtual wardrobe is built, he receives four of these items, once worn, he can buy them or return them to receive new ones. A rental offer that is not unlike that of Rent the Runway …
The world’s first carbon free fashion self-appointed brand, Sheep Included offers sustainable and committed clothing with a little extra. With each item purchased, you become the owner of a New Zealand sheep. Follow in real time the life of your sheep: an excellent way to create a unique relationship thus meeting the need of valorization of Wealthy Families.
Carefree Young Adults
These young people, students or those looking for their first job, are less than thirty years old and still live mainly with their parents. In fact, they have a limited budget and use the Circular Economy to stay at the forefront, especially in terms of electronic equipment.
With its One|Second|Suit service, H&M offers its customers to book a suit online for free for 24 hours! Once the appointment is completed, the customer returns the suit free of charge; the retailer is then responsible for its cleaning and ironing to be able to rent it to another candidate.
In China, 60% of users of the Idle Fish app, the second-hand app that sells what you buy on Alibaba, were born after 1990. The app is organized by passions to create mini-communities: literature to follow the latest sold books or video games for all addicts, etc.
H&M wants to end the Fast Fashion yet at the heart of its success. Looop is a recycling system that transforms, into the shop, old clothes into new ones. A system in eight steps; without water or dye. From a long-lasting source, a single material is added to reinforce the fibers of the previously shredded garment. Enough to make new with old by turning old clothes into resources for the fashion industry.
Nike has launched its market place for the purchase/ resale of pairs of sneakers. With thesolehouse.com, the comma brand creates the argus of sneakers allowing everyone to know the value of their shoes and to be able to resell them or buy second-hand shoes after authentication by the American brand. An ideal solution for our young adults to stay up to date while buying at a lower cost. Nike intrude into the market for second-hand basketball resale which is expected to reach $30 billion by 2030.
Evolving Couples
Young couples without children, they are in the midst of building their homes. Faced with limited incomes, they prefer the Circular Economy to equip themselves and thus develop their living places.
Since 2020, Miliboo offers the sale of reconditioned products. These are new products from returns, stocks or showrooms and include a minor appearance defect. Once processed, they are offered for sale with discounts of 15 to 20%.
Nordstrom has partnered with the second-hand Goodfair platform. Each month, the brand creates the event by launching its temporary vintage clothing shop. A strong moment of exclusivity with its consumers!
Ikea has replaced its in-store find section with its Circular Hub, which allows you to equip your home with second-hand furniture: standard items, display models, items that have been slightly damaged or that have already experienced a first focus. Thus, customers bring their old furniture in store and receive in exchange a credit to buy new furniture. A good compromise according to the Swedish giant between good business and preservation of the planet.
Tactician Families
Faced with heavy burdens, these families with children arbitrate their consumption and seek, with the Circular Economy, the right plan.
In Belgium, Decathlon is testing its rental with We Play Circular. Once a family subscribes, they can rent one or more of the 40,000 products at the point of sale! A great way to play sports and fill your garage with unused products.
If the consumer does not want to rent equipment, they can ensure that it is sustainable. With the Darty Max subscription, washing machines, refrigerators, ovens or dishwashers can be repaired up to 15 years after purchase, purchased from Fnac-Darty or elsewhere.
Samsung has recently made it possible to transform the packaging of its televisions into furniture and eco-responsible objects: coffee table, indoor shelter for its cat or even rocking horse. To access the tutorial videos, simply scan the QR code on the box and let yourself be guided.
Golden Middle-Aged
With a large savings capacity and a substantial amount to live on, these easy quinquas are looking for the best. In this respect, the sustainability promised by the Circular Economy fits perfectly as one of their major selection criteria.
To engage its consumers in an anti-food waste approach, the Finnish supermarket S-Market organizes every evening from 21H00 its Happy Hours; a discount of less than 60% of the price of products arriving at expiry the same evening.
With its The Restory service, the London brand Harvey Nichols extends the life of luxury items. Shoes or handbags, the products are restored respecting the codes of luxury brands. Upon request, they can also be completely redesigned by the teams to create new ones. With repair services, the life of the products increases and the ecological impact of consumption decreases.
