1、THE CIRCULAR ECONOMY The Customer Journey in Circular RetailPage of 219OVERVIEWCircular retail services are gaining popularity among businesses looking to limit their environmental impact and remain relevant in a changing landscape.With society in the early stages of developing effective closed-loop

2、 business models,we set out to investigate best retail practices within the circular economy.The study focuses on three key sections-refill,return,and repair.Zero-waste packaging is one of the fastest-growing retail industries,valued at US$229.46 billion in 2021.The resale market willdouble the size

3、of the fast fashion industry by the end of the decade,and repair services will experience an annual growth rate of 9.9%in 2021,reaching US$1407.22 billion by the end of 2022.Together they form a network of services that seek to reduce pollution and create opportunities for brand loyalty.SLD surveyed

4、 over 600 North American respondents,interviewed five circular business owners,and conducted over a dozen store audits.By combining insights from our research,the study identifies key areas of opportunity for brands to elevate their circular programs and enter the circular economy.Page of 319HYPOTHE

5、SIS We hypothesize that:Most consumers would participate in circular services if they were more convenient for them to navigate.Circular services with innovative store incentives tailored to consumer needs are more successful in influencing sustainable shopping habits.Investing in circular services

6、will result in increased brand loyalty and customer retention.RESEARCH GOALS The study began with the following research objectives:1.To identify common challenges business face when transitioning to a closed-loop business model.2.To explore barriers and motivations that influence consumer engagemen