19.07.2022 | Reading-time: 2 min

STEG Electronics and Loopia join forces to implement circular economy

Lucerne/Zurich - The computer and electronics retailer STEG Electronics is collaborating with the start-up Loopia to realize the vision of a circular economy in the retail sector. Loopia supports retailers in offering customers straightforward access to services that help to prolong the life of their products.

The Lucerne-based computer and electronics retailer STEG Electronics is working together with Loopia, a start-up from Zurich, on the introduction and application of circular economy principles in the retail sector. According to a joint press release from STEG and Loopia, as of July 18 customers of the electronics retailer will be able to transfer their products directly after purchase to the Loopia App from the start-up supported by the Migros Pioneer Fund.

In addition to an improved overview of the products, customers will then have access to product-specific services that keep the products in circulation longer. Also new are the services provided by STEG that aim to ensure that computers and notebooks can be used for longer, further details of which can be found in the press release.

STEG is the first retailer to work with Loopia, the press release states. “Extending the lifespan of IT products has always been an important part of our service DNA at STEG”, comments Malte Polzin, CEO of STEG Electronics, in the press release. For his part, Philipp Glauser, co-founder and CEO of Loopia, explains how it is “pleasing to see that the circular economy is gaining a foothold in retail and that more and more companies are also offering their customers sustainable services during the usage phase.

The joint media release refers to the European consumer barometer published in early July by the financial service provider Consors Finanz, which is owned by BNP Paribas Germany. According to the barometer, the circular economy offers a major opportunity for retailers. In total, 82 percent of Europeans expect more innovative products and services from this model. The various components of repairing, upgrading, re-using and recycling represent interesting approaches for retail businesses, the study explains.

STEG Electronics AG