4. Shifting to “as-a-service” business model to help the circular economy with Yann Toutant
Mar 3, 2023
auto_awesome
Explore the benefits of 'as-a-service' models in a circular economy, from reducing waste to creating new revenue streams. Learn how any product can be turned into a service and how it shapes our sustainable future. Discover the importance of flexibility and customer-centric approaches in redefining business models.
Transitioning to as-a-service models in circular economy can reduce waste and increase product longevity.
Incorporating products into service-based offerings improves circularity by ensuring product retrieval and reuse.
Deep dives
Transition to Circular Economy: Shift from Linear to Circular Model
The podcast delves into the necessity of transitioning from a linear economic model to a circular one. It highlights the challenges posed by the lack of recycling or recovery of products, emphasizing the growing importance of circular practices. A key solution discussed involves the as-a-service model, where manufacturers retain ownership, ensuring full responsibility for a product's lifecycle from creation to end-of-life retrieval.
Evolution and Implementation of the As-a-Service Model
The episode explores the concept of as-a-service, outlining its historical presence while noting a recent surge in adoption by various industries. Specific examples like Spotify and Netflix demonstrate the diverse applications of this model. The discussion also emphasizes the incorporation of products into service-based offerings, enhancing circularity by ensuring product retrieval and reuse.
Benefits and Challenges of As-a-Service Model for Businesses and Consumers
The benefits of the as-a-service model for companies include recurring revenues, enhanced customer loyalty, and increased brand engagement through regular touchpoints. Additionally, users benefit from flexible payment structures and improved access to products. However, challenges such as data access, privacy concerns, and defining circularity-related KPIs remain hurdles to widespread adoption of this model.
Join host Stephanie McLarty, Head of Sustainability at Quantum Lifecycle Partners, in this episode as she explores the benefits and challenges of as-a-service business models in a circular economy with Yann Toutant, Founder of Black Winch. Discover how as-a-service models can reduce waste, increase product longevity, and create new revenue streams for businesses. Find out whether any product can be turned into a service and how as-a-service plays a role in shaping our sustainable future.
If you like our podcasts, please leave us a review on Spotify or Apple or wherever you get your podcasts from. Want to be a guest on The Circular Future podcast? Email Sanjay Trivedi at strivedi@quantumlifecycle.com