Meaning ● Circular Retail Innovation signifies a strategic shift for Small and Medium-sized Businesses (SMBs) toward sustainable practices, focusing on waste reduction and resource optimization across the retail value chain. ● It entails automating processes to enhance reverse logistics, product refurbishment, and resale, thereby generating new revenue streams. ● Implementation often involves adopting cloud-based inventory management systems to track product lifecycles and integrating data analytics to understand consumer demand for refurbished goods.
