LGBT Buying Power

illustration of people showing LGBT support in rainbow color bac
illustration of people showing LGBT support in rainbow color background

Size of Market

  • Size of Market and Buying Power
    • 6.8% of Americans over the age of 18 -roughly 15 to 16 million people self identify as lesbian, gay, bisexual, or transgender.
    • The buying power of this segment for 2010 was projected to be $743 billion. The 2014 figure places the amount at $880 billion.

    Advertising and Brand Loyalty

    • 88% of lesbian and gay adults and 70% of heterosexuals are likely to consider a brand that is known to provide equal workplace benefits for all their employees, including lesbians and gays. ( February 2007)
    • Lesbians and gays also are more likely to ask for a specific brand when ordering alcoholic beverages (60%) compared to 42% of heterosexuals. (February 2007)

    Purchasing Behavior

    • Nearly half (48%)  of lesbian and gay adults report they like to keep up with the latest styles and trends, compared to only 38% of heterosexual adults. (July 2008)
    • About two-thirds (66%) of all lgbt adults reported that they would be very or somewhat likely to remain loyal to a brand they believed to be very friendly and supportive to the lgbt community- even when less friendly companies offer lower prices or be more convenient. (September 2007)

    Health and Fitness

    • when asked if they smoke, 25% of lesbians said they were smokers compared to 19% of heterosexual women who said they were smokers ( November 2008)
    • When asked, 22% of lesbian and gay survey respondents reported having no health insurance, compared to only 12% of heterosexual adults in the survey. (May 2008)

    Travel

    • LGBT consumers report on average they were likely to spend about $2,300 between May and August 2009 for both leisure and business travel, while heterosexuals on average said they would spend about $1,500 during that same period. (May 2009)
    • With regards to air travel, compared to a year ago -6 out of 10 (62%) of lgbt respondents stated they would stay the same (55%) or increase them (7%), while only 36% of heterosexuals said they will stay the same (27%) or increase them (9%). (May 2009)

    Finances 

    • In the next six months just looking at lesbian and gay adults, 31% expect there household’s financial condition to be better, compared with 24% of heterosexual adults. (September 2009)
    • One-third (31%) of lgbt consumers cite the internet as a source for financial information they use often, while only 26% of heterosexuals concur. (July 2008)

Technology/Media Consumption

  • • More than half (55%) of lesbian and gay respondents reported reading some
    type of blog, compared with only 38% of heterosexuals. (May 2009)
    • Slightly more than half (55%) of lesbian and gay adults state they are members
    of Facebook, compared with 46% of heterosexual adults, while 23% of
    lesbian and gay respondents reported being members of LinkedIn, while
    only 13% of heterosexual adults stated they are members. (May 2009)

Public Policy

• 86% of heterosexual adults strongly or somewhat agree that how
an employee does his or her job should be the standard for judging
an employee, not their sexual orientation. (August 2009)
• Two–thirds (67%) of LGBT adults say that things in the country are going in the
right direction, compared to 45% of heterosexual adults. (August 2009)
Insurance
• When asked what reasons they might use for switching their auto insurance
from one company to another, a third (33%) of self-identified lesbians
and gays said that offering domestic partner benefits to its employees
would be one of their top three reasons they would change providers and
take their business to another insurance carrier. (February 2008)
• Almost half of lesbian and gay adults (49%) have no life insurance policies whereas
just under one third (32%) of heterosexuals claim to have none. (February 2008)
Pets
• 90% of gay pet owners say their pet is a member of their family, and two thirds
have bought their pets presents for the holidays. (December 2007)
• Seven out of ten (71%) LGBT adults today say that they own pets,
compared with 63 % of heterosexual adults. (December 2007)

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