The annual LOHAS Conference, which I will be covering for Triple Pundit, along with MC O’Connor, is coming up June 23-25 in beautiful Boulder, Colorado. This week, ahead of the conference itself, LOHAS released its annual “LOHAS Consumer Trends Database,” which is the Natural Marketing Institute’s consumer tracking tool. It aims to explore what’s going on in the sustainable consumption marketplace.
LOHAS, which stands for Lifestyles Of Health And Sustainability, describes a consumer demographic that puts their health and the health of the planet toward the forefront of their purchasing decisions, preferring to buy organic foods, body care products, renewable energy, and the like.
The annual Forum “draws influential speakers, research organizations and academics to explore innovative solutions, addressing challenges facing the global marketplace.” The findings of this research report will be covered in detail at the event, but some of the headlines are below.
According to Ted Ning, director of LOHAS, “Natural Marketing Institute’s research is invaluable to businesses in uncovering opportunities and strategies in the global LOHAS marketplace. With the upcoming Forum, participants can expect to gain even deeper insights into what drives purchasing decisions and how brands can more effectively reach their targets.”
Among their findings, there were some good news items and some that may be game-changers for businesses that have been trying to tap into the coveted LOHAS marketplace by creating premium products and services.
- US consumers spent $300 billion on LOHAS related products and services in 2008.
- Approximately 2/3 of consumers care about the environment when considering a purchase. While this is good news, the caveat is that these folks still put price ahead of sustainability issues when making a purchase more often than not.
- 8 in 10 consumers are interested in some green product. This factor has improved from the last report from LOHAS.
With the proliferation of “cheap” green goods, from companies like Clorox, has changed the game for companies looking to market to the LOHAS segment. Given that second bullet point above, I’m very curious as to what the LOHAS Forum will tell us about the changing consumer marketplace for green products.