How can you innovate products with circular economy sustainability?

1 What is circular economy?

Circular economy is a concept that challenges the traditional linear model of production and consumption, where products are made, used, and disposed of. Instead, it proposes a system where products are designed to last longer, be repaired, refurbished, or recycled, and where materials are kept in circulation as much as possible. This way, circular economy reduces the environmental impact of products, saves costs, and creates new value and opportunities.

2 Why is circular economy relevant for product innovation?

Circular economy is not only a matter of environmental responsibility, but also a source of competitive advantage and innovation potential. By adopting circular economy principles, you can create products that meet the changing needs and preferences of customers, who are increasingly aware of the social and environmental implications of their choices. You can also differentiate your products from the competition, by offering more value, quality, and functionality. Moreover, you can optimize your resources, processes, and business models, by finding new ways to generate revenue, reduce costs, and mitigate risks.

3 How to use circular design frameworks?

One of the challenges of circular economy is to rethink the way products are designed, from the initial idea to the end-of-life stage. To help you with this, you can use some circular design frameworks, which are tools that guide you through the different aspects and stages of circular product development. For example, you can use the Circular Design Guide, developed by IDEO and the Ellen MacArthur Foundation, which offers a set of methods, mindsets, and case studies for circular innovation. You can also use the Circularity Deck, created by Circular Flanders and Flanders DC, which is a card game that helps you explore circular strategies and opportunities for your product.

4 How to apply circular business models?

Another aspect of circular economy is to rethink how products are delivered, used, and recovered, and how value is created and captured along the way. To do this, you can apply circular business models, which are ways of organizing your activities and relationships to enable circularity. For example, you can use the Product-Service System model, where you offer a service based on the use of a product, rather than selling the product itself. This way, you can maintain ownership and control of the product, ensure its proper maintenance and reuse, and generate recurring revenue. You can also use the Reverse Logistics model, where you collect and recover used products or materials from your customers, and use them as inputs for new products or services. This way, you can reduce waste, save resources, and create new value from waste streams.