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With green products increasingly going mainstream through the introduction of value-pried options from traditional supermarkets and big-box retailers, consumers no longer feel they have to pay a premium price for sustainable items, the LOHAS Consumer Trends Database (LCTD) has found. This finding emphasizes the importance of investing in product innovation and continuing to surmount hurdles to competitive pricing of eco-friendly offerings, according to Harleyville, Pa.-based Natural Marketing Institute, which will present some of the database’s latest insights at the upcoming LOHAS Forum in Boulder, Colo. The event will take place June 23 through June 25.
“Natural Marketing Institute’s research is invaluable to businesses in uncovering opportunities and strategies in the global LOHAS marketplace,” noted Ted Ning, director of LOHAS, and acronym for “Lifestyles of Health and Sustainability.” “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.”
Speaking at the forum, NMI managing partner Steve French and business director Gwynne Rogers will share further findings from the LCTD, drawing from research conducted among 50,000-plus consumers in over 20 countries. Further findings include:
—Eight in 10 consumers are interested in some type of green product
—Around two-thirds of consumers care about the environment but their purchases are primarily determined by price
—U.S. consumers spent almost $300 billion on LOHAS-related products and services in 2008
NMI is an international strategic consulting, market research and business development company specializing in the health, wellness and sustainable marketplace. Its proprietary LCTD is the only global consumer-tracking tool that explores sustainable consumption around the world through the LOHAS lens.