THE EVOLUTION OF CONSUMER VALUES AS A DRIVER OF BUSINESS MODEL TRANSFORMATION IN THE RETAIL SECTOR IN THE CONTEXT OF THE CIRCULAR ECONOMY
Abstract
This study explores the link between evolving consumer values and the transformation of retail business models within the circular economy. Using theoretical analysis, typology, and behavioral interpretation, it identifies value–model alignment patterns. A typology of business models and consumer behavioral profiles is proposed, along with an analytical structure for assessing alignment. The concept of Circular Fit is introduced to express the match between consumer values, behavioral readiness, and company models. The 4C strategic adaptation model and an alignment scale are presented to evaluate circular strategies. Theoretical value lies in proving alignment as key to circular transformation; practical relevance is in applying the models to communication strategy planning, circular offer design, and sustainable retail development.
References
Bączyk, M., Tunn, V., Worrell, E., & Corona, B. (2024). Consumer behavior in circular business models: Unveiling conservation and rebound effects. Sustainable Production and Consumption. 52. рр. 283–298. DOI: https://doi.org/10.1016/j.spc.2024.10.022
Rousseau, S., & Carmen, R. (2021). Consumer Attitudes towards Circular Business Models and Activities. CE Center publication. 15. Available at: https://circulareconomy.europa.eu/platform/sites/default/files/consumer_attitudes_towards_circular_business_models_and_activities.pdf
UNIDO. (2024). Towards the Circular Economy in Ukraine. UNIDO Report. Available at: https://www.unido.org/sites/default/files/unido-publications/2024-08/Towards-the-Circular-Economy-Ukraine_ENG_online.pdf
Kulczycka, J. (2024). Circular economy in Ukraine – a chance for transformation in difficult times. Mineral and Energy Economy Research Institute of the Polish Academy of Sciences. Available at: https://min-pan.krakow.pl/wydawnictwo/wp-content/uploads/sites/4/2024/07/2024-Kulczycka-Ukraina.pdf
Mostaghel, R., & Chirumalla, K. (2021). Role of customers in circular business models. Journal of Business Research. 127. рр. 35–44. DOI: https://doi.org/10.1016/j.jbusres.2021.01.045
Horbal, N. I., & Slipachyk, S. V. (2023). Tsyrkuliarna ekonomika: osoblyvosti ta perspektyvy vprovadzhennia v Ukraini v umovakh viiny [Circular economy: Features and prospects for implementation in Ukraine during wartime]. Menedzhment ta pidpryiemnytstvo v Ukraini: etapy stanovlennia i problemy rozvytku, vol. 2(9), 257–268. №2(9). рр. 257–268.
Yefanov, V. (2024). Vykorystannya pryntsypiv tsyrkulyarnoyi ekonomiky ta zamknutykh tsykliv u vyrobnytstvi dlya minimizatsiyi vidkhodiv ta zmenshennya navantazhennya na navkolyshnye seredovyshche [Using the principles of circular economy and closed loops in production to minimize waste and reduce the burden on the environment]. Economy and Society, (62). DOI: https://doi.org/10.32782/2524-0072/2023-58-17
Oliinyk, O. V., Lehenchuk, S. F., & Yurkivska, O. D. (2024). Tsyrkuliarna ekonomika yak osnova staloho rozvytku pidpryiemstva: oblikovyi aspekt [Circular economy as a foundation for sustainable enterprise development: Accounting aspects]. Economics, Management and Administration, 4(110), рр 54–62. DOI: https://doi.org/10.26642/jen-2024-4(110)-54-62
Artemov, V. O., Bakhchevan, E. V., & Bochko, O. A. (2023). Tsyrkuliarna ekonomika – vyklyk suchasnosti [Circular economy – a challenge of modernity]. Economy and Society, (58). DOI: https://doi.org/10.32782/2524-0072/2023-58-17
Saunders, K., & Mattelson, M. (2022). Retail Industry Reshapes with Hybrid Cloud and AI to Help Meet Shifting Consumer Shopping and Sustainability Preferences. IBM newsroom. Available at: https://newsroom.ibm.com/2022-01-13-Retail-Industry-Reshapes-with-Hybrid-Cloud-and-AI-to-Help-Meet-Shifting-Consumer-Shopping-and-Sustainability-Preferences#:~:text=Retail%20Industry%20Reshapes%20with%20Hybrid,Half%20of
PwC. (2024). Consumers willing to pay 9.7% sustainability premium, even as cost-of-living and inflationary concerns weigh: PwC 2024 Voice of the Consumer Survey. Available at: https://www.pwc.com/gx/en/news-room/press-releases/2024/pwc-2024-voice-of-consumer-survey.html#:~:text=LONDON%2C%2015%20May%202024%20%E2%80%93,the%20Consumer%20Survey%2C%20published%20today
Singh, A. Eco-Friendly Consumer Trends by the Numbers. Marine Biodiversity & Sustainability Learning Center. Available at: https://www.marinebiodiversity.ca/eco-friendly-consumers-10-eye-opening-statistics-how-you-can-join-the-green-revolution/#:~:text=Eco,the%20sustainable%20consumer%20movement%2C%20as
IMIR. (2025). Global Circular Economy Market Size, Share & Trends Analysis Report. Available at: https://www.intellectualmarketinsights.com/report/circular-economy-market-size-and-share-analysis/imi-008486#:~:text=,Sustainable%20Products
ScaleX-Invest. (2023). Infographic - Top trends in the circular economy. Available at: https://www.scalex-invest.com/blog/infographic-top-trends-in-the-circular-economy#:~:text=energy%20and%20energy%20efficiency%20,tonnes%20of%20plastic%20waste%20every
Schenkman, L. (2024). US secondhand market projected to reach $73B by 2028: report. Fashion Dive. Available at: https://www.fashiondive.com/news/thredup-2024-resale-report-global-data/711500/#:~:text=,retail%2C%20according%20to%20the%20report
ThredUp Newsroom. (2025). ThredUp’s 13th Resale Report Shows Online Resale Saw Accelerated Growth in 2024, Expected to Reach $40 Billion by 2029. Available at: https://newsroom.thredup.com/news/thredup-13th-resale-report#:~:text=,CAGR%29%20of%2010
European Commission. (2023). Attitudes of Europeans towards the environment. Available at: https://europa.eu/eurobarometer/surveys/detail/3173
European Commission. (2021). Flash Eurobarometer 501: Attitudes of Europeans towards Waste Management and Circular Economy. Available at: https://europa.eu/eurobarometer
European Parliament. (2023). Special Eurobarometer 538 – Fairness perceptions. Available at: https://europa.eu/eurobarometer
European Parliament. (2024). Right to repair: Making repair easier and more appealing to consumers. Available at: https://www.europarl.europa.eu/news/en/press-room/20240419IPR20590
Rubryka. (2021). 26% of Ukrainians consider environmental problems to be one of the most pressing threats to the country. Available at: https://rubryka.com/en/2021/10/27/opytuvannya-problemy-ekologiyi/
FAOLEX. (2022). Law No. 2320-IX “On waste management”. Available at: https://zakon.rada.gov.ua/laws/show/2320-20
Bączyk M., Tunn V., Worrell E., Corona B. Consumer behavior in circular business models: Unveiling conservation and rebound effects. Sustainable Production and Consumption. 2024. vol. 52. рр. 283–298. DOI: 10.1016/j.spc.2024.10.022
Rousseau S., Carmen R. Consumer Attitudes towards Circular Business Models and Activities. CE Center publication. 2021. vol.15. URL: https://circulareconomy.europa.eu/platform/sites/default/files/consumer_attitudes_towards_circular_business_models_and_activities.pdf
Exploratory Strategic Foresight for Circular Economy in Ukraine: Final Report. Vienna, UNIDO. 2024. URL: https://www.unido.org/sites/default/files/unido-publications/2024-08/Towards-the-Circular-Economy-Ukraine_ENG_online.pdf
Antoniuk N., Bochko О, Kulczycka J. Circular economy in Ukraine – a chance for transformation in industry and services. Kraków 2024. Publishing House MEERI PAS. 2024. 190 р. URL: https://min-pan.krakow.pl/wydawnictwo/wp-content/uploads/sites/4/2024/07/2024-Kulczycka-Ukraina.pdf
Mostaghel R., Chirumalla K. Role of customers in circular business models. Journal of Business Research. 2021. vol.127. рр. 35–44. DOI: https://doi.org/10.1016/j.jbusres.2021.01.045
Горбаль Н.І., Сліпачик С.В. Циркулярна економіка: особливості та перспективи впровадження в Україні в умовах війни. Менеджмент та підприємництво в Україні: етапи становлення і проблеми розвитку. 2023. Вип. 2(9). С. 257–268. URL: https://science.lpnu.ua/sites/default/files/journal-paper/2023/dec/32720/menedzhment223maket-257-268.pdf
Єфанов В. Використання принципів циркулярної економіки та замкнутих циклів у виробництві для мінімізації відходів та зменшення навантаження на навколишнє середовище. Економіка та суспільство. 2024. Вип. 62. С. 69–75. DOI: https://doi.org/10.32782/2524-0072/2024-62-95
Олійник О., Легенчук С., Юрківська О. Циркулярна економіка як основа сталого розвитку підприємства: обліковий аспект. Економіка управління та адміністрування. 2024. Вип. 4(110). С. 54–62. DOI:10.26642/ema-2024-4(110)-54-62
Артемов В., Бахчеван Е., Бочко О. Циркулярна економіка – виклик сучасності. Економіка та суспільство. 2023. Вип. 58. DOI: https://doi.org/10.32782/2524-0072/2023-58-17
Saunders, K., & Mattelson, M. (2022). Retail Industry Reshapes with Hybrid Cloud and AI to Help Meet Shifting Consumer Shopping and Sustainability Preferences. IBM newsroom. URL: https://newsroom.ibm.com/2022-01-13-Retail-Industry-Reshapes-with-Hybrid-Cloud-and-AI-to-Help-Meet-Shifting-Consumer-Shopping-and-Sustainability-Preferences#:~:text=Retail%20Industry%20Reshapes%20with%20Hybrid,Half%20of (дата звернення: 05.06.2025).
Consumers willing to pay 9.7% sustainability premium, even as cost-of-living and inflationary concerns weigh: PwC 2024 Voice of the Consumer Survey. PwC. URL: https://www.pwc.com/gx/en/news-room/press-releases/2024/pwc-2024-voice-of-consumer-survey.html#:~:text=LONDON%2C%2015%20May%202024%20%E2%80%93,the%20Consumer%20Survey%2C%20published%20today (дата звернення: 05.06.2025).
Eco-Friendly Consumer Trends by the Numbers. Marine Biodiversity & Sustainability Learning Center. URL: https://www.marinebiodiversity.ca/eco-friendly-consumers-10-eye-opening-statistics-how-you-can-join-the-green-revolution/#:~:text=Eco,the%20sustainable%20consumer%20movement%2C%20as (дата звернення: 05.06.2025).
Global Circular Economy Market Size, Share & Trends Analysis Report. IMIR. URL: https://www.intellectualmarketinsights.com/report/circular-economy-market-size-and-share-analysis/imi-008486#:~:text=,Sustainable%20Products (дата звернення: 05.06.2025).
Infographic - Top trends in the circular economy. ScaleX-Invest. URL: https://www.scalex-invest.com/blog/infographic-top-trends-in-the-circular-economy#:~:text=energy%20and%20energy%20efficiency%20,tonnes%20of%20plastic%20waste%20every (дата звернення: 05.06.2025).
Schenkman L. US secondhand market projected to reach $73B by 2028: report. Fashion Dive. 2024. URL: https://www.fashiondive.com/news/thredup-2024-resale-report-global-data/711500/#:~:text=,retail%2C%20according%20to%20the%20report (дата звернення: 05.06.2025).
ThredUp’s 13th Resale Report Shows Online Resale Saw Accelerated Growth in 2024, Expected to Reach $40 Billion by 2029. ThredUp Newsroom. 2025. URL: https://newsroom.thredup.com/news/thredup-13th-resale-report#:~:text=,CAGR%29%20of%2010 (дата звернення: 05.06.2025).
Attitudes of Europeans towards the environment. European Commission. 2023. URL: https://europa.eu/eurobarometer/surveys/detail/3173 (дата звернення: 05.06.2025).
Flash Eurobarometer 501: Attitudes of Europeans towards Waste Management and Circular Economy. European Commission. 2021. URL: https://europa.eu/eurobarometer (дата звернення: 05.06.2025).
Special Eurobarometer 538 – Fairness perceptions. European Parliament. 2023. URL: https://europa.eu/eurobarometer (дата звернення: 05.06.2025).
Right to repair: Making repair easier and more appealing to consumers. European Parliament. 2024. URL: https://www.europarl.europa.eu/news/en/press-room/20240419IPR20590 (дата звернення: 05.06.2025).
26% of Ukrainians consider environmental problems to be one of the most pressing threats to the country. Rubryka. 2021. URL: https://rubryka.com/en/2021/10/27/opytuvannya-problemy-ekologiyi/ (дата звернення: 05.06.2025).
Про управління відходами: Закон України від 20.06.2022 № 2320-IX/ Верховна Рада України. URL: https://zakon.rada.gov.ua/laws/show/2320-20 (дата звернення: 05.06.2025).
