Business and consumers are shifting to a circular economy now

Moreover, there are signs that product disposal trends are slowing (or at least attitudes may be shifting). In addition to the percentage of recycling efforts that work, consumers and firms are also finding it easier to preserve existing goods by repairing them[45] or remaking them into new, usable products.[46] Instead of filling landfills and junkyards, or inflicting mountains of waste on vulnerable populations, there is a growing market in product renewal. To some degree, the interest in such products reflects a sustainability mindset. But in some cases, it is nothing more than a desire for less expensive versions of new products. There are even instances in which the remade article is actually more expensive and luxurious than the original. Increasingly, there is a real business case to be made for alternatives to disposal.

B. The Novel Outlets and Supply Chains for Existing and Remade Products

An alternative to recycling is the reuse of a product or some piece of the product. In some cases, there is an easily understandable market. Consider vintage goods, which may be acquired for less money and may convey a fashion or historical/collectable cachet.[47] In this context, consumers reject the attraction of “new and improved” in favor of a connection to the past. That connection could be sentimental or ironic, and it ensures a longer life for a good that is at least temporarily saved from the refuse bin.

But of course, desiring old for the sake of old is a limited aspect of the overall marketplace. More interesting and significant is the ability to restore, refurbish, and improve goods for continued use so that no functional sacrifice is made. An increasing number of companies are seeing the value in participating in this market. Others feel the pressure to join as a matter of social responsibility. Regardless, we seem to be witnessing a revolution in the effort to keep products in circulation and avoid early obsolescence.