Round and round the circular economy

" The circular economy is one where everything is reused and nothing is wasted."
Sarah Boumphrey, Head of Strategic, Economic and Consumer Insight at Euromonitor International

The circular economy is one where everything is reused and nothing is wasted. It is the antithesis of the current ‘build, buy, bury’ model of a one-way stream of raw material to factory, to user then landfill.

A driving force of the circular economy is the pressure on natural resources, which creates more importance for resource efficiency. The cost-savings involved are an attractive factor, as is the benefit to company reputation.

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In a post-recessionary environment, with global economic growth still fragile, consumers remain cautious about spending, with conspicuous consumption being replaced by conscious consumption.

Making the most of their own resources is part of this drive, with consumers increasingly open to reusing, trading and hiring durable goods.

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Sarah Boumphrey is Head of Strategic, Economic and Consumer Insight at Euromonitor International

You can read Euromonitor International’s full article here.

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