We just learned a new buzzword the other day and aside from our own press, we didn’t realize the marketing opportunity we had by aligning ourselves in a ‘new’ category. This category is all the rage now and it is called LOHAS, short for Lifestyles of Health and Sustainability. According to Eric Peterson on the LOHAS website, the LOHAS market is $355 Billion and growing about 10% per year. What’s interesting to us though, is that from the beginning, Life Elements was conceived and built as a company that respected the environment and provides products that cater to those who desire a more fulfilling existence.
Using the LOHAS terminology, there are 5 key marketplace segments: Sustainable Economy, Healthy Lifestyles, Alternative Healthcare, Personal Development, and Ecological Lifestyles. Here is how we see them:
Sustainable Economy: According to Mr. Peterson: “It’s not exactly about a specific category of products or services but rather a self-sufficient, ecologically friendly philosophy shared by a disparate set of businesses.” Life Elements uses only essential oils with no preservatives and is refining our sourcing process to ensure that we move towards renewable product packaging and vendors who support these initiatives. As anyone trying to be ‘green’ will tell you, this is still easier said than done, especially if you work your way all the way down the supply chain. But we are trying.
Healthy Lifestyles: You are what you eat…and what you put on your skin. All our products are free of parabens, sodium lauryl sulfates, dyes, formaldehyde and synthetic fragrances. I dare you to pick up any skin care product (shampoo, conditioner, kid’s bubble bath, etc) you have laying around the bathroom and look at the ingredients. Then look up some of those ingredients on Wikipedia. That should be enough to kickstart your thinking about what you put ON your body.
Alternative Healthcare: This one is more of a stretch, but if you take the generally accepted definition that alternative medicine is more about a holistic approach, treating not only the body but acknowledging the soul as well, then we think we fit there. Life Elements is all about improving your connection with those who are important to you, whether that is thru touching, talking or just paying attention to each other. No other product line out there addresses the COUPLE… You are buying scents designed to encourage connection…not just perfume a room.
Personal Development: Again quoting the LOHAS website: “…techno burnout and other travails of 21st century life appear to be fueling the growth of LOHAS’s Personal Development sector.” We couldn’t agree more..and we say so here and tell you how to deal with those “travails of 21st century life” here.
Ecological Lifestyles: Not only are we striving for more eco-friendly products as noted above, but the eco-tourism market includes more and more spas that practice low impact and sustainable principles, including many from our current hotel and spa client list.
So for you investor types, please contact us for our executive summary and see how you can particpate in the LOHAS market boom. -Curt