Internet of Things – one of the Digital Steps that Companies Should Consider towards Circular Economy and Sustainability An Exploratory Case Study Defined by the Sustainable Retrospective of one of the Top Global Retail Groups

Abstract

Abstract Are digitalisation and Internet of Things (IoT) enablers for the circular economy? This question is based on relatively new concepts, but with a strong foundation applied in the relationship between environment, economy, and society, which, through their roles, determines a sustainable approach towards a future which companies and consumers should share. In order to highlight the attributes of the circular economy in a direct relation with the influence of digitalisation and the IoT component, the theories of various experts prove our ability to perceive sustainability from a circular and digital perspective. Whether we talk about the interconnection between the process of monitoring the life cycle of a product and the adoption of artificial intelligence during the creation process, the circular economy is the solution that comes to support the business models which also use promotion through green marketing. The adoption of the principles of circularity overlapping technological practices supports the idea of creation of a world built on social responsibility, generating long-term social, environmental and governance benefits. Nowadays, society increasingly feels the need to adopt sustainable behaviour, building pressure on the way companies operate, produce, and sell. The case study performed on a global group that has already started to adopt circular business models through digital and especially IoT technologies is proof that this solution could be implemented quite easily by other companies and the race has already started.