A New Market Segment Defined
You’ve probably heard of lifestyles of the rich and famous. Here’s one you may not be familiar with – Lifestyles of Health and Sustainability (LOHAS). LOHAS describes a $228.9 billion U.S. marketplace for goods and services focused on health, the environment, social justice, personal development and sustainable living. Sociologist Paul Ray identified LOHAS customers as “cultural creatives,” a group of educated consumers who make conscientious purchasing and investing decisions based on social and cultural values. According to Ray, about 50 million people, or 25% of adult Americans, comprise this group.
Cultural Creatives are a large and growing consumer market for products and services such as, green building, renewable energy, natural and organic products, environmentally friendly electronics, eco-tourism, alternative healthcare solutions, and mind/body/spirit products. We will likely hear more about this consumer market as more companies view sustainability as a source of business opportunity.