DEVELOPING CIRCULAR ECONOMY FOR THE RETAIL REFRIGERATION INDUSTRY: HOW FINANCIAL INCENTIVES COULD INFLUENCE REMANUFACTURiNG OF REFRIGERATED DISPLAY CABINETS IN THE UK

This paper examines how influential financial incentives could be in achieving a Circular Economy, with particular reference to the retail refrigeration industry. It underlines the potential monetary benefits for consumers who purchase remanufactured retail refrigeration equipment and highlights the potential financial incentives, which could help the producers of Refrigerated Display Cabinets (RDCs) to remanufacture. The Circular Economy is an economic and industrial system where resources are kept in use for as long as possible. This system is an alternative to the linear “take-make-use-dispose” path, which is adopted in many industries. Remanufacturing uses less energy and resources than the traditional linear approach, whilst making products that are considered to be as good as new. Due to the economical and environmental benefits the impetus to remanufacture is growing. The growth of the remanufacturing industry in the UK in relation to RDCs, could help to create a more sustainable and competitive retail industry. This paper evaluates the potential financial savings a supermarket could make from the purchase of remanufactured RDCs and proposes that financial incentives could help producers implement remanufacturing in their business models, in an attempt to encourage the industry to become more resource-efficient and circular