Industry insiders and researchers have widely recognized refurbishment as an environmentally friendly activity that reduces raw material waste and energy consumption. Simultaneously, blockchain is increasingly used in the supply chain with its information transparency and traceability. The refurbished product market possesses substantial potential. Nevertheless, refurbished products carry an inherent risk of brand spillover. Within this framework, manufacturers must weigh broader considerations in selecting product distribution channels. In this study, we discuss three sales models for new and refurbished products in the secondary market, namely, Scenarios M (where the manufacturer sells new products to consumers through the retailer and sells refurbished products to consumers directly), R (where the manufacturer sells new products to consumers through the retailer, and the retailer produces and sells refurbished products alongside new products), and C (where the manufacturer sells new products to consumers, and the remanufacturer sells refurbished products to consumers through a retailer). Upon examining the equilibrium outcomes of each model, it is evident that a manufacturer's decision to produce refurbished products hinges on market demand. High demand for refurbished goods inclines manufacturers towards the M scenario, whereas insufficient demand leads to cessation of refurbishment activities. Conversely, retailers navigate between R and C scenarios based on market demand. The advent of blockchain technology shifts the strategic focus: the extent of brand spillover supersedes market demand as the pivotal factor influencing retailers' production strategies. Blockchain technology can increase manufacturers' profits. Interestingly, in Scenario C, blockchain does not always improve retailer profits.

中文翻译：

---

翻新产品渠道策略比较分析：区块链、品牌溢出对供应链竞合的影响

业内人士和研究人员普遍认为翻新是一种环保活动，可以减少原材料浪费和能源消耗。同时，区块链以其信息透明、可追溯的特点，越来越多地应用于供应链。翻新产品市场潜力巨大。然而，翻新产品存在品牌溢出的固有风险。在此框架内，制造商在选择产品分销渠道时必须权衡更广泛的考虑因素。在本研究中，我们讨论了二手市场上全新和翻新产品的三种销售模式，即场景M（制造商通过零售商向消费者销售新品，并直接向消费​​者销售翻新产品）、R（制造商将产品销售给消费者）。 C（制造商向消费者销售新产品，再制造商通过零售商向消费者销售翻新产品）。在检查每个模型的均衡结果后，很明显，制造商生产翻新产品的决定取决于市场需求。对翻新商品的高需求使制造商倾向于 M 情景，而需求不足则导致翻新活动停止。相反，零售商根据市场需求在 R 和 C 场景之间进行选择。区块链技术的出现改变了战略重点：品牌溢出的程度取代了市场需求，成为影响零售商生产策略的关键因素。区块链技术可以增加制造商的利润。有趣的是，在场景 C 中，区块链并不总是能提高零售商的利润。