The Gay and Lesbian Market is considered a “Dream Market” because of:
- Their size and buying power,
- Their brand loyalty,
- They are an influencer market,
- And are economically resilient.
A study in 2010 found that 6.8% of the U.S. adult population identified as gay, lesbian or bisexual, which is approximately 15 million people. With over 3 million same-sex households in America, less then 25% of gay men and lesbians live in households with children. Because of this, there is more disposable income in the LGBT market also known “Double Income No Kids.”
With an expected buying power of $845 billion (as of 2010), the LGBT market is also brand loyal.
- 4 out of 10 gay consumers purchase from companies that advertise to gay and lesbian media.
- 55% of LGBT consumers choose to do business with companies that are committed to diversity and equal treatment.
- 70% of gay and lesbian adults would be more likely to pay premium for a product that supports the LGBT community.
- 78% of gays and lesbians and their friends or relatives would switch brands to companies that are known as “LGBT Friendly.”
Gays and lesbians are early adopters of technology, spend more time on the Internet, blog more, travel more often and stay longer.
- 24% of gays and lesbians keep up with latest styles and trends vs. 17% of non-gays.
- 55% of gays and lesbians read blogs vs. 38% of heterosexuals who read blogs.
- 55% of gays and lesbians are on Facebook vs. 46% of heterosexuals.
- 20% of gays and lesbians are on Twitter vs. 12% of heterosexuals.
- 34% of LGBT adults in a recent poll expected their finances to improve soon vs. 23% of heterosexual adults.
- 21% of LGBT adults believe the economy will start growing again within the next six months, compared to 10% of non-gays.
Gays and lesbians are spending in higher numbers and have more optimism about the economy recovering then non-gays.
Gay and lesbians are heavy consumers of media and information.
*Sources from OutThinkpartners and Witick-Combs/Harris Interactive
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