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The circular economy (CE) has gained prominence in recent years in government and business policies, as well as academic research. Yet, its alleged wholesomeness is increasingly questioned and few quantitative studies include both the outer (e.g. recycling) and inner circles (e.g. reduce or reuse), respectively the ex-ante least and most efficient CE strategies. By developing a supply chain equilibrium model , based on general equilibrium theory, this paper presents a modelling framework where a product-service system is introduced as a circular alternative to conventional products. Through generalised prices that cover inner and outer circle variables, targeted economic and fiscal policy measures affect overall price levels and, by consequence, operational levels of the supply chain. The rationale behind this approach relies on combining material and economic efficiency by integrating material/product life cycles with market interactions. To illustrate its performance, the model examines the rollout of a reusable plastic bottle initiative in Belgium. The results show that if circular products are perceived as substitutes for conventional products, well-targeted policies can reduce material use substantially. Furthermore, coordinating circular policies along the supply chain can improve their outcomes. However, the absence of CE data impedes model development and risks undermining the validity of the results. • Desirability of circular economy measures depends on societal outcomes and varies case by case. • Supply chain equilibrium captures material and economic efficiency of circular policies. • Perceived substitutability of circular and conventional products shapes policy outcomes. • Coordinating circular policies along supply chain can induce synergies. • Data availability can enhance circular economy model development and validity of outcomes. [ABSTRACT FROM AUTHOR]

The current fast fashion model fostering high consumption causes consequential damages to the planet and society, facts that highlight the need to curtail its growth throughout more sustainable solutions. Among these solutions is engaging fashion customers in Product-Service Systems (PSSs), which are oriented towards dematerializing fashion consumption by offering bundles of products and services. Drawing from the social exchange theory, this research sheds light on the benefits customers seek to engage with various coexisting product-oriented and use-oriented PSSs in the fashion industry. A quantitative study among 477 customers in Belgium reveals that customer engagement with PSSs in the fashion industry is a function of the benefits that customers expect to reach (economic, pragmatic, cognitive, personal, hedonic, and societal expectations) and their demographic characteristics (gender and age). Depending on the expected benefits and demographic characteristics, customers were found to engage with different types of PSSs. Accordingly, fashion companies should leverage customers' expected benefits and demographics when developing PSSs and communicating about these PSSs. • Conceptual framework on relationship between customer expectations and engagement with product-oriented and use-oriented PSSs • Customer engagement with PSSs is a function of the benefits that customers expect to reach and their demographic characteristics • Impact of customer expectations in terms of economic, pragmatic, cognitive, personal, social, hedonic, and societal benefits on customer engagement depends on type of PSS • Survey among 477 customers recruited in Belgium in July 2019 [ABSTRACT FROM AUTHOR]

This study aims to determine the main factors shaping millennials' willingness to consider leasing a smartphone in Flanders (Belgium). An innovative approach, namely a discrete choice experiment (DCE), is adopted to address this issue. A DCE is a quantitative, survey-based, technique used for eliciting individual preferences. The results show that support for leasing smartphones cannot be taken for granted. Three consumer classes had significantly different attitudes, revealing that a majority of respondents were not open to leasing smartphones. The main barriers were the uncertainty regarding the consequences of entering into a lease contract, financial considerations and the role smartphones play in determining the self-identity of young consumers. Environmental concerns, financial considerations and a desire to own the latest model were stated as possible drivers of adopting such a product-service system. • Support from consumers for leasing smartphones cannot be taken for granted. • Discrete choice experiments are useful in determining consumers' preferences. • Uncertainty and the extended self are important barriers. • Environmental concerns and a desire to own the latest model are important drivers. • Financial consequences are mainly determined by the smartphone's expected life span. [ABSTRACT FROM AUTHOR]