There is an existing market for circular businesses
In cooperation with Sustainable Brand Insight, Pure Consulting launched the report The Nordic Market for Circular Economy. - From the report we read that there is a market for circular products and services, but there are barriers for consumers, especially in the sharing economy, says Kia Klavenes, partner at Pure Consulting. Norwegian businesses that are able to simplify will win.
The launch of The Nordic Market for Circular Economy, a report by Swedish Sustainable Brand Insight, was met with substantial engagement when it was launched at Polytechnic Society in Oslo, in cooperation with Pure Consulting.
This is the first report that maps consumer knowledge on and interest in circular business conseptes.
From the report we read that there is a market for circular products and services, but there are barriers for consumers, especially in the sharing economy, says Kia Klavenes, partner at Pure Consulting.
Norwegian businesses that are able to simplify will win. It is about developing circular solutions that are accessible, feels sage and easy to use, Kia continues.
The report shows that the majority of nordic consumers and businesses limit circular economy to be about recycling of waste. This is also reflected in the Norwegian opinion. This leads to wasted commercial potential. We need to focus on upcycling, where we design products of greater value, in addition to increased usage of recycled materials in new products and extending products’ lifecycle.
We can see that businesses that are ahead regarding sustainability, are now looking towards circular concepts to approach a circular economy, to build knowledge on what a circular economy can mean for their core business and business models, and test and implement concepts that are commercially sustainable.
About the report:
The Nordic Market for Cicular Economy is the first mapping of how nordic consumers and businesses look at circular economy and gives an idea on the market for circular business concepts. 2400 consumers and 300 businesses (in different sectors and revenue on 100 mill € minimum) was interviewed.
The study was done by Sustainable Brand Insight, who annually does the largest brand study related to sustainability in the Nordics.
Pure Consulting launched the report in Norway and is spokespersons for it in Norway.