Consumer Demand for Circular Products: Identifying Customer Segments in the Circular Economy

Understanding consumer preferences in the circular economy can help producers develop profitable strategies, lowering the risk involved in transitioning to circular business models and circular product design. This study uses a choice experiment to identify customer segments for mobile phones and ro...

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Autores principales:	Robert H. W. Boyer, Agnieszka D. Hunka, Katherine A. Whalen
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	circular economy customer segments latent demand consumer demand circularity metrics Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/7f112e8248d149cfac5838ad5a4306da
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spelling	oai:doaj.org-article:7f112e8248d149cfac5838ad5a4306da2021-11-25T19:00:20ZConsumer Demand for Circular Products: Identifying Customer Segments in the Circular Economy10.3390/su1322123482071-1050https://doaj.org/article/7f112e8248d149cfac5838ad5a4306da2021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/22/12348https://doaj.org/toc/2071-1050Understanding consumer preferences in the circular economy can help producers develop profitable strategies, lowering the risk involved in transitioning to circular business models and circular product design. This study uses a choice experiment to identify customer segments for mobile phones and robot vacuum cleaners at different levels of circularity. The experiment observes how a product’s theoretical Circular Economy Score (ranging from 0 to 100) influences consumer preferences as compared to other product attributes like price, appearance, warranty, battery life, reseller type, or ease of repair. Drawing from 800 UK respondents, the results indicate the presence of three customer segments that are sensitive to a product’s Circular Economy Score, including two that appear willing to purchase recirculated items and one that expresses a preference against them. The results offer initial evidence that a market for recirculated consumer electronics exists and that circularity labeling is a marketable option. The results also present a strong rationale for further research that probes a greater variety of products and contexts.Robert H. W. BoyerAgnieszka D. HunkaKatherine A. WhalenMDPI AGarticlecircular economycustomer segmentslatent demandconsumer demandcircularity metricsEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12348, p 12348 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	circular economy customer segments latent demand consumer demand circularity metrics Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	circular economy customer segments latent demand consumer demand circularity metrics Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Robert H. W. Boyer Agnieszka D. Hunka Katherine A. Whalen Consumer Demand for Circular Products: Identifying Customer Segments in the Circular Economy
description	Understanding consumer preferences in the circular economy can help producers develop profitable strategies, lowering the risk involved in transitioning to circular business models and circular product design. This study uses a choice experiment to identify customer segments for mobile phones and robot vacuum cleaners at different levels of circularity. The experiment observes how a product’s theoretical Circular Economy Score (ranging from 0 to 100) influences consumer preferences as compared to other product attributes like price, appearance, warranty, battery life, reseller type, or ease of repair. Drawing from 800 UK respondents, the results indicate the presence of three customer segments that are sensitive to a product’s Circular Economy Score, including two that appear willing to purchase recirculated items and one that expresses a preference against them. The results offer initial evidence that a market for recirculated consumer electronics exists and that circularity labeling is a marketable option. The results also present a strong rationale for further research that probes a greater variety of products and contexts.
format	article
author	Robert H. W. Boyer Agnieszka D. Hunka Katherine A. Whalen
author_facet	Robert H. W. Boyer Agnieszka D. Hunka Katherine A. Whalen
author_sort	Robert H. W. Boyer
title	Consumer Demand for Circular Products: Identifying Customer Segments in the Circular Economy
title_short	Consumer Demand for Circular Products: Identifying Customer Segments in the Circular Economy
title_full	Consumer Demand for Circular Products: Identifying Customer Segments in the Circular Economy
title_fullStr	Consumer Demand for Circular Products: Identifying Customer Segments in the Circular Economy
title_full_unstemmed	Consumer Demand for Circular Products: Identifying Customer Segments in the Circular Economy
title_sort	consumer demand for circular products: identifying customer segments in the circular economy
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/7f112e8248d149cfac5838ad5a4306da
work_keys_str_mv	AT roberthwboyer consumerdemandforcircularproductsidentifyingcustomersegmentsinthecirculareconomy AT agnieszkadhunka consumerdemandforcircularproductsidentifyingcustomersegmentsinthecirculareconomy AT katherineawhalen consumerdemandforcircularproductsidentifyingcustomersegmentsinthecirculareconomy
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Consumer Demand for Circular Products: Identifying Customer Segments in the Circular Economy

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