The green market is booming and FAST. Determining who your audience is, who the market demographic is can't be stressed enough.
Right now, everyone (and I mean everyone) is trying to figure out who these people are and what they want. I've talked a lot about eco-chic and luxury green. But Alex Williams over at The New York Times summed up the 'green movement' and it's complexities succinctly in his article "Buying Into the Green Movement."
Here's my own exploration into the Mainstreaming of the Green Market. Just let me say, that marketers and business executives are scrambling to figure out the "Green" demographic. It's a real mishmash of theory and debate about what is eco-friendly and how to capitalize on this rather new interest by a population driven by consumption. Yes, I AM talking primarily about those of us who reside in the US.
The market is largely dominated by LOHAS (Lifestyles of Health and Sustainability). They represent a $228.9 billion marketplace for goods and services that focus on the environment, social justice, personal development and sustainable living. This is a rapidly growing group of consumers. They are leading the "green" movement. Any marketing efforts should take this group into account. Most importantly they are looking for and loyal to companies that are committed to being ‘eco’ to the core. Greenwashing isn't something they look for nor will put up with.
“Naturalites” represent about 25% of all US adults. While this group isn’t driven to purchase eco-friendly products, necessarily, they are very health focused looking for natural and organic consumer goods, especially food.
To further complicate the green demographic profile, it's also being broken down by how green a person considers themselves to be - ie, what ARE they willing to give up to live an eco-friendly lifestyle? "Light Green" is now a term being tossed around that represents a certain upscale lifestyle and market approach. People who represent this market are characterized by the following characteristics:
- Drive their SUVs to Whole Foods
- Do not expect companies to be perfect in order to be considered “green”
- Are beyond boycotts
- Drink organic wine after yoga
- Applaud convenience
- Looking for opportunities to reduce their environmental footprint through their everyday decisions
- Are educated and seek information from sources they trust
- Approximate age 35
- 94% women 6% men
- Median household income of $82,000
- 79% college educated
- 70% professional/post professional degree
Okay, there you go. Tip #2. Go get 'em tiger! Use this information and get to know your customers.
All data provided came from the Natural Marketing Institute, Idealbite and Lohas.com.
[...] Green Marketing Tip #2 - Know Your Market! [...]