The market segmentation for Go Green Yoga Mats reaches four potential segments:
1) Women between the ages of 23 – 34.
2) Women between the ages of 35 – 55.
4) Yoga instructors.
People who practice yoga often have a median income of $75,000 or higher2 and are looking for health benefits and stress reduction. Go Green Yoga Mats has something to offer all yoga students whether they are focused on high quality, eco-friendly products or concerned with website security and accessibility.
The following graph depicts Go Green Yoga Mats anticipated customer breakdown.
MARKET TRENDS & GROWTH PATTERNS
According to the US Census Bureau, as of 2008, Women between the ages of 25-44 accounted for 26.18% of the US female population, approximately 40.9 million people. As a percentage of the total population, this segment is projected to decrease slightly to 25.68% of women by 2020. However, this will still result in a population increase, to an estimated 43.5 million people in 2020. Overall, the Census Bureau predicts a slow but steady increase in this population over the next decade.3
A 2008 study indicated that almost half (49.4%) of current yoga students began practicing to improve their overall health, which has grown since 2003 when that number was 5.6%. Nearly 8%, or 18.3 million Americans, say they are very or extremely interested in yoga and 4.1% of non-practitioners, or about 9.4 million people, say they will definitely try yoga within the next year.4
Mintel forecasts that there will be a 19% growth for green products by 2013.5 About 50% of women say they are looking for more green options. 37% say they are paying more attention to brands that are committed to environmental causes and of all the products in woman’s shopping carts today, 25% of them are environmentally friendly.6 30% of American consumers are willing to pay up to a 20% premium on clean, green products over non-sustainable alternatives.7
Consumers are spending more time investigating what brands are doing before buying products.8 Currently approximately 63% of online shoppers are women.9 The total number of online shoppers is expected to grow by 4.5% and average online spending per consumer is expected to reach $1,550 per year.10
These positive trends in online shopping and green products suggest strong market growth for Go Green Yoga Mats.
MARKET SIZE AND POTENTIAL
72% of yoga practitioners are women who do the main purchasing for the household.
Go Green Yoga Mats market size consists of the entire population of yoga practitioners, approximately 15.8 million people.11
The green movement is continuing on the rise, growing around 5% per year.12
In today’s market place more people are buying online, which is currently averaging around 68 million online shoppers spending roughly $200.6 billion in 2011.13 Go Green Yoga Mats has a large market size of individuals that shop online for green yoga products.