A circular economy (often referred to simply as “circularity”) is an economic system aimed at minimizing waste and making the most of resources. This regenerative approach contrasts with the traditional linear economy, which has a ‘take, make, dispose’ model of production. In a circular system resource input and waste, emission and energy leakage are minimized by slowing, closing, and narrowing energy and material loops; this can be achieved through long lasting design, maintenance repair, reuse, manufacturing, refurbishing and recycling, all implemented via corporate and social entrepreneurship. Proponents of the circular economy suggest that a sustainable world does not mean a drop in the quality of life for consumers and can be achieved without loss of revenue or extra costs for manufacturers. The argument is that circular business models can be as profitable as linear models, allowing us to keep enjoying similar products and services.
Given the mix of shopping, entertainment, and social interaction, the mall represents, the key competitor as identified by flea market buyers and sellers. The differences as compared to the mall are represented by price, possibility to negotiate, and finding used merchandise. flea markets have a lot of merchandise much cheaper than in stores. Then, the offer is much more varied, you can find different things for a better price. Buyers even noted that they also hang out in malls, but just to see the merchandise, the prices, and then go look for similar products at the flea market.
Flea market statistics and university studies so far suggest that large consumer crowds are increasingly over itemized and try to recycle increasingly. Competition for flea market is classic shopping mall. Increasingly flea market wins crowd preference as items are cheaper and possibility to negotiate terms is larger. Increasingly crowds see items in malls and then go to flea markets for purchasing something similar.
The PMGS International OY solution is an online tool for retail business as flea market entities, shop-in-shop and similar business. The solution offers per web site and mobile App businesses and their customers (buyers and sellers) a unique experience for easy and effective selling and buying of products by connecting online and offline markets. Customers will be able to optimize the buying, selling and administrative processes and gain significant in time, costs and sales. With Artificial Intelligence the solution brings the two worlds of instore and online of buyers and sellers effectively together and delivers a smooth product mediation.