Business in a World of Good
Market research reveals a multi-billion dollar consumer demand that is being starved of supply. Guided by the eco-savvy consumers of today, its more than just a fad or a trend to fade away in three years; sustainability is at the core of this consumer choice, and that means the demand is also here to stay. More consumers than ever are using their purchasing power to make a genuine statement about their concern for the environment. Combined, they make a dedicated group, fond of everything from organic potatoes to hybrid cars, and marketers have given them their very own name to wear as a badge of honour; ‘Lohasian’. The latest research shows that 80% of these environmentally mindful consumers say their purchase decisions are directly influenced by a companyÕs Corporate Social Responsibility (CSR) policies. A far more wide-reaching term than the semantics of ‘eco’ or ‘green’ could encompass, LOHAS is Lifestyles Of Health And Sustainability and represents a social movement that has conscious consumption at the centre of its values. Stemming from a business movement in the USA, LOHAS has morphed in Asia to become a brand used to describe all manner of environmental products and services. First taking off in Japan, then China and Taiwan and now spreading rapidly through the Asia-Pacific region. Companies gaining the leading edge recognise that customers expect them to act more so than do their under-performing competitors, are more interested in lowering their carbon footprint, and are much more in tune with creating the image that they care. They associate environmentally sound practices with their brand image to consumers and the industry, and associate these practices with their ethical responsibility to the community in anticipation of stealing market share as the customerÕs green demands grow. Natural Marketing Institute (NMI) and LOHAS Asia’s first in-depth survey […]