PNN
Mumbai (Maharashtra) [India], September 17: The circular economy is a model of production and consumption which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.
In practice, it implies reducing waste to a minimum. When a product reaches the end of its life, its materials are kept within the economy wherever possible, thanks to recycling. These can be productively used again and again, thereby creating further value.
This is a departure from the traditional, linear economic model, which is based on a take-make-consume-throw-away pattern. This model relies on large quantities of cheap, easily accessible materials.
When a product has been designed to have a limited lifespan, it encourages consumers to buy it again. According to the World Economic Forum, a circular economy is an "industrial system that is restorative or regenerative by intention and design."
In view of the present economic scenario in India and abroad, the significance of the circular economy is important in terms of recycling products which is an immediate need of the hour for sustainable development and pollution safeguard.
Circular economy closes the loop on the linear "take-make-consume-throw away" pattern by retaining the highest utility and value products, components and materials for as long as possible. With circular economy activity everything produced is transferred and used somewhere else continuously.
In view of this situation, many organizations are attracted towards circular economy both for the sustainability of the product and meeting demands.
The launch of the leading furniture brand's, a peer-to-peer marketplace for second hand furniture, highlights the growing recognition of the circular economy by global industry giants. Their initiative to enable customers to buy and sell second hand furniture directly reflects a significant shift towards sustainability and resource efficiency, aligning with their goal to become "circular and climate positive" by 2030. This move underscores the potential of the circular economy not just as an environmental necessity but as a strong business opportunity.
Rockingdeals Circular Economy Limited is a pioneer in the Indian re-commerce sector and attracts many players to this segment. As one of the few organized players in India, Rockingdeals has been leading the charge in re-commerce by creating a structured platform for buying and selling excess, open-box, and refurbished inventory. In a market predominantly filled with unorganized players, the organization stands out for its commitment to quality, customer satisfaction, and sustainability.
The company offers services to sellers and buyers bringing them on the same platform. It helps buyers for the use of refurbished articles at a reduced price and that too with transparency marking the condition of the product including brands in several categories. The leading brand's venture in this category endorses the rising growth of the circular economy domestically and globally.
Strategic agreements with several global brands, warehousing facilities and distribution networks are considered to be the basic benchmark for a competitive edge among the players poised on the dynamics of the circular economy.
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