Is Circularity Becoming A Retail Imperative?

With shoppers becoming increasingly mindful about their consumption choices, businesses are facing heightened scrutiny and pressure to meet new sustainability standards and adapt to evolving shopping habits. This is driving retailers to rethink their business models in order to make circularity part of their mindset and operations. So, how are retailers that weren’t born with sustainability at the core of their business concretely adapting to the circular momentum?

From linear to circular business models

Certain brands and retailers are paving the way for impactful mindset and operational shifts needed to truly put sustainability at the heart of their agenda. Luxury department store Selfridges developed a vision to reinvent retail through its ‘Project Earth’ initiative, built on three pillars: transitioning to sustainable materials, investing into new shopping models, and challenging the mindsets of its partners, teams and customers. In addition to aiming for net-zero carbon emissions by 2040, the retailer made a bold commitment: by 2030, 45% of transactions within the business will come from circular products and services.