Follow on Google News News By Tag Industry News Country(s) Industry News
Follow on Google News | Overcoming Consumer Barriers to Purchasing Environmentally-Friendly ProductsFirst in a series of seven trends based on NMI's extensive LOHAS consumer insight.
By: The Natural Marketing Institute Many “green” consumer products and services are currently enjoying phenomenal growth rates within the $209 billion LOHAS marketplace. And media coverage of such topics continues to drive the market. NMI expects these trends to continue for the foreseeable future. Acceleration could also occur if a few present market barriers are addressed. Among LOHAS consumers - a primary target for green, socially-responsible and sustainable products - lack of availability, understanding about the product’s true environmental benefit, and cost prohibit some LOHAS consumers from buying more green products. Examining these barriers as identified in NMI’s LOHAS Consumer Trends Database™ provides the foundation for the development of marketplace opportunities. Availability: Understanding: Cost: Finally, as with many products and services, cost prohibits approximately one-third of LOHAS consumers from buying environmentally- According to NMI Managing Partner Steve French, “The momentum of the LOHAS marketplace is reaching the tipping point. New products and services, media campaigns, and industry events, among other activities are being introduced every day. NMI predicts the LOHAS market will double in size by 2010 to $420 billion. This will, in part, be achieved by overcoming the barriers of availability, understanding, and cost – some of which appear to have already begun to diminish based on the dynamic and opportunistic nature of a multitude of LOHAS marketplace happenings.” NMI's annual proprietary LOHAS Consumer Trends Database™, conducted since 2002, is the only vehicle that covers the LOHAS market across a broad range of attitudes, behaviors, product usage rates, lifestyle patterns, and trends in this marketplace. LOHAS is an acronym for Lifestyles Of Health And Sustainability and describes an integrated, rapidly growing market for goods and services that appeal to consumers who have a meaningful sense of environmental and social responsibility and incorporate those values into their purchase decisions. For more information, please visit the NMI website at www.NMIsolutions.com or contact NMI at 215-513-7300. NMI is a strategic consulting, market research, and business development company specializing in health, wellness and sustainability. For more information on NMI’s proprietary research reports and services, visit NMI’s web site at www.NMIsolutions.com. Website: www.nmisolutions.com End
|
|