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PHILADELPHIA and SCHAUMBURG, Ill. -- Natural Marketing Institute (NMI), a market research and strategic consulting firm specializing in health, wellness, and sustainability, and The Nielsen Company have reached an agreement to provide in-depth insights into NMI's Lifestyles Of Health And Sustainability (LOHAS) consumer segmentation model and expertise.
The relationship provides consumer packaged goods manufacturers and retailers with a deeper understanding of the $209 billion LOHAS market, as well as the ability to make better "eco-decisions" about product development, positioning, pricing, communication and distribution to meet LOHAS consumers' needs.
Nielsen will incorporate NMI's proprietary segmentation model into its Homescan Consumer Panel and Spectra BehaviorScape Framework, allowing NMI and Nielsen to factor LOHAS consumers' attitudes, psychographics, and behavioral patterns into their actual purchase behavior.
"Together, NMI and Nielsen offer an unparalleled level of ongoing insight into the LOHAS marketplace that no other company is able to provide," noted NMI s.v.p. Patti Marshman-Goldblatt in a statement. "For manufacturers and retailers, a key benefit of this relationship is the prospect of attaining and tracking greater ROI by identifying and targeting shoppers across the whole spectrum of LOHAS consumers and their varying degrees of eco-engagement."
The collaboration lets companies pinpoint opportunities for new brands and existing products, as well as understand which categories and brands are most relevant to the LOHAS consumer and measure the effectiveness of LOHAS-targeted products and promotions. Combined data is available for analysis now.
"Our collaboration provides CPG manufacturers and retailers with actionable insights, enabling them to intimately understand the LOHAS consumer, including where they live, where they shop, and what they buy," said Tim Kregor, segmentation and targeting product leader, Nielsen Consumer Panel Services. "By working together, we can help companies develop meaningful eco-consumer strategies."
LOHAS describes an integrated, rapidly growing market for goods and services appealing to consumers with meaningful sense of environmental and social responsibility, and incorporates those values into their purchase decisions. NMI has quantified the LOHAS market and consumer since 2002.
Employing a proprietary algorithm, NMI's annual survey, LOHAS Consumer Trends Database, places U.S. consumers into one of five consumer groups: LOHAS, Naturalites, Drifters, Conventionals, and Unconcerneds. This allows companies not just to focus on the LOHAS consumer segment, but on other opportunistic segments as well.