US The Circular Economy Market Report 2021
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Providing the most comprehensive and up-to-date information and analysis of the US Circular Economy market, including the behaviours, preferences and habits of the consumer.
Circular shopping options (eg rentals and resale) continue to gain popularity across categories with both brands and consumers. While the COVID-19 pandemic has caused a negative setback, especially for rentals, the circular economy is resilient and has the potential to keep growing in competition and, most importantly, in popularity.
As consumers shop more consciously, they will continue to turn to these options for value and affordable access to high quality brands, as well as for a more sustainable way to shop. Moving forward, circular shopping options will continue to become more prominent across retail as brands look to evolve their offerings to appeal to consumers’ changing wants and needs.
As of January 2021, 37% of consumers had acquired pre-owned items in the past year, down from 43% noted in last year’s version of Mintel’s The Circular Economy – US, February 2020. The imposed lockdowns and the fear of virus transmission harmed the market without a doubt. Nonetheless, as brands continue to focus on safety measures, consumers become more comfortable with utilizing these options and the rollout of the vaccine continues, the market has been recovering.
Read on to discover more details or take a look at all of our US Retail market research.
Brands: Rebag, Trove, Love Home Swap, Walmart, Poshmark, The RealReal, IKEA, Rent The Runway, Depop.
This report, written by Marisa Ortega, a leading analyst in the Finance sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Alternative shopping options were not exempt from the devastating effects of the pandemic. Despite consumers’ precautions due to the coronavirus, the economic and environmental benefits of alternative options are making them stand out from traditional retail. With the rise of new ways of acquisition, opportunities among new target segments and cemented interest among younger generations, the circular economy is definitely here to stay.
Marisa Ortega
Cross-category Analyst
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.