HOW TO INCREASE CONSUMER ACCEPTANCE OF THE TRANSITION TO CIRCULAR ECONOMY

MIROSLAV JURKOVIČ

https://doi.org/10.53465/EDAMBA.2021.9788022549301.226-233

 

Abstract: The transition to the circular economy (CE) is a major theme for stakeholders from business and politics, but if the transition is supposed to be successful, we must shift our attention to consumers and their behavior as well. We know from literature that consumers don’t have enough information about CE and therefore we have to find way how to increase their knowledge. The lack of consumer awareness and acceptance has been mentioned as an important barrier for the development of a CE. Manufacturers will arrange their products to services and will have to convince consumers to switch from consuming products to consuming their services. The products will remain the property of the manufacturers and customers will buy the services they provide. The business model turns around. Are consumers prepared to this change?

Keywords: circular economy, consumer, transition

JEL classification: M31, Q56

Fulltext: PDF

Online publication date: 12 May 2022

 

To cite this article (APA style): 

Jurkovič, M. (2022). How to Increase Consumer Acceptance of the Transition to Circular Economy. Proceedings from the EDAMBA 2021 conference, 226 – 233. https://doi.org/10.53465/EDAMBA.2021.9788022549301.226-233