People no longer want to own things – including furniture. Furniture as a Service offers an alternative.
Product as a Service (PaaS) can provide users a flexible and convenient way to use products and provide producers and retail outfits a way to create recurring revenue. When properly instituted, this business model could prove to have significant environmental benefits. It could help the global drive towards more sustainable and environmentally friendly business practices. …
For a long time, profit maximization has remained the ethos of the automotive industry. The factory mindset of ‘the more products you sell, the more money you make’ leaves little room to reflect on the environmental or social impact of the products sold. Riversimple, the world’s only independent hydrogen car startup, aims to break this …
The shift from a linear to a circular economy is not a just a passing trend but a necessity. For many decades, we have been living a linear lifestyle, wherein raw materials are used to create a product, and after its use, waste such as broken appliances or packaging are disposed of. Most of our waste end up in landfills or in the ocean, causing pollution and irreparable damage to the planet and to ourselves.
Software as a Service (SaaS) is a cloud-based software application that users access via the internet. It is cloud-based and users no longer have to purchase expensive software nor download them to their desktop, laptop, or computer network after a costly one-time purchase. The software application could be anything from a gaming software to a business application.
To rent or lease heaters is now a thing, especially in Japan where heating as a service has become commonplace. The business of renting out heaters was introduced by a Japanese company in 2001. Since then, the company has continued the approach of selling a service, aside from just selling heating appliances. This business practice is now called “product as a service” or PaaS.
IKEA plans to roll out a Product as a Service business model wherein clients can rent Furniture as a Service instead of purchasing fixtures. It’s a bid that appeals to a younger clientele and everyone who is concerned about the cost of ownership when furnishing a home or office. It is also a move towards a circular economy that involves returning old furniture to IKEA for refurbishing and re-selling.