eBay's WorldofGood.com poised to capitalize on booming LOHAS market
Submitted by Shannon on Mon, 09/08/2008 - 20:27.
Recently-launched WorldofGood.com by eBay is a new and unique e-commerce site dedicated to eco-conscious and ethically sourced products. With more consumers considering environmental and social impacts before making purchases, WorldofGood.com offers shoppers a multitude of information about each product. Items are rated with a nutrition label-like system - showing the social and environmental impact each purchase makes.
The products are certified by third parties such as Oakland, CA-based TransFair USA, which guarantees both that producers (farmers, artisans, etc.) are compensated farily and equitably for their work, and that environmental standards are satisfied. Products range from foods and beverages to handicrafts, allowing socially- and environmentally-aware shoppers a wealth of items.
WorldofGood.com debuts at a time of serious growth for the $209 billion LOHAS industry. According to the Natural Marketing Institute (NMI), the LOHAS products market will likely exceed the $400 billion mark by 2010. In a recent report, NMI and Nielsen found that 81% of LOHAS consumers purchase producs labeled 'organic,' and may spend up to four times as much on eco-conscious products as non-green consumers.
Robert Chatwani, WorldofGood.com general manager, adds that the site enables shoppers to "purchase socially responsible products with confidence." The ability to tailor one's purchases according to specific environmental and social criteria will likely be popular with the values-driven LOHAS segment - and provide a new opportunity for online green marketing.
The products are certified by third parties such as Oakland, CA-based TransFair USA, which guarantees both that producers (farmers, artisans, etc.) are compensated farily and equitably for their work, and that environmental standards are satisfied. Products range from foods and beverages to handicrafts, allowing socially- and environmentally-aware shoppers a wealth of items.
WorldofGood.com debuts at a time of serious growth for the $209 billion LOHAS industry. According to the Natural Marketing Institute (NMI), the LOHAS products market will likely exceed the $400 billion mark by 2010. In a recent report, NMI and Nielsen found that 81% of LOHAS consumers purchase producs labeled 'organic,' and may spend up to four times as much on eco-conscious products as non-green consumers.
Robert Chatwani, WorldofGood.com general manager, adds that the site enables shoppers to "purchase socially responsible products with confidence." The ability to tailor one's purchases according to specific environmental and social criteria will likely be popular with the values-driven LOHAS segment - and provide a new opportunity for online green marketing.
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