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Gay and Lesbian Market Facts
Why Gays and Lesbians are Such Valuable CustomersResponsive72% of gays and lesbians prefer to buy from companies that advertise to them directly (Harrick/Witeck-Combs) “Overall studies showed that Gays and Lesbians favored companies that advertised in gay-oriented publications and supported gay events, believing they could exert their own personal market power by devoting time, money and resources to these companies.” (Twenty Million New Consumers, by Steven Kates) Brand Loyalty 89% of gays and lesbians are highly likely to seek out brands that advertise to them, the majority are willing to pay a premium for these products and services. (Simmons) Objective and Career Minded 83% of Gay Americans have attended college or have graduated from college. (@Plan) Status Conscious/Style Conscious Compared to the national average, gay-americans are twice as likely to own a prestige or luxury vehicle and four times more likely to shop at Neiman Marcus. (@Plan) Why Gays and Lesbians are Good for Businesses, Communities and IndustryNeighborhood RevitalizationGay people are more likely to move into and devote income to improving distressed neighborhoods, which sets a cycle of neighborhood improvement in motion. (Florida State) “The historical role and place of the homosexual in society is not in its regenerative sustenance but in it's contributions to cultural revitalization and entrepreneurial or intellectual rejuvenation.” (Virtually Normal by Andrew Sullivan) Couples Have Higher Income The median combined household income of gay couples is nearly 60% higher than non-gay double income couples, (OpusComm Group) Cultural Support Gays and Lesbians have discretionary dollars to support arts and culture and broad educational goals. (OpusComm Group) Seeks Diverse Communities Compared to the national average, gay and lesbian people are 3 times more likely to want to live in racially, ethnically, and culturally diverse communities. (Gertler & Vinoderai) Attracts Innovative Minds Creative and innovative people driving the tech economy seek places high in cultural and racial/ethnic diversity, including those with higher than average gay and lesbian communities. (Florida & Gates at Brookings) |