JWT's trendspotting team has just
released its latest trend report, "The Circular Economy," which explores
the revival of an alternative economic model that's designed to reduce
waste and is steadily gaining ground
with major brands from Unilever to
BMW to Philips and more.
Among other things the report highlights how brands need to reframe
the customer relationship in order to become more cyclical. Companies
will need to create ongoing relationships with users so as to keep their
goods within the closed loop. The possibilities are numerous, including
monitoring the quality of parts digitally; as Caterpillar does,
creating financial incentives for the safe return of used goods, as
several apparel retailers are doing; and giving consumers the means to
easily repair or re-use goods.