926. Servitisation, circular business models and PSS contracts – Th is book3480 focused on the “servitisation” of the economy – a shift from buying products to using “products-as-service” – which is said to have a huge potential towards a more circular economy in the movable consumer products and services sector. Th e idea is that, since service suppliers retain ownership of the products off ered “as-a-service”, it is in their best interest to ensure they last a long time. Th is can be done by off ering high-quality and durable products that can easily be taken back, repaired, refurbished and/or recycled at the end of their useful life. Th e umbrella term used throughout this book is “product-service systems” (“PSS”), meaning a “marketable set of products and services, capable of jointly fulfi lling a user's need.”

927. One central research question… – Although the trend of servitisation has huge potential, also in economic terms, consumers oft en feel uncertain and hesitant to engage in new circular business models and PSS contracts. Th is may be explained by behavioural barriers and the lack of a clear regulatory framework. Moreover, the sustainability of PSS is not necessarily a given. Studies have shown that in some cases PSS even have a negative eff ect on sustainability due to careless use of a product by those who are not the owner (“moral hazard”) or due to an increase in “unnecessary” consumption of PSS that are cheaper than purchasing the product outright (so-called “rebound eff ects”).