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Wednesday, June 4, 2008

The Gay and Lesbian Market

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How economically powerful are gays and lesbians?

  • An estimated 15.3 million gay and lesbian consumers had a combined buying power of more than $660 billion in 2006.
  • 72% prefer to buy from companies that advertise to them directly (source: Harris/Witeck-Combs)
  • 89% are highly likely to seek out brands advertised to them, and a majority will pay a premium for quality products and services (source: Simmons)
  • Gay Americans are almost twice as likely as their straight peers to own a prestige luxury vehicle (source: @blan)
  • The median combined household income of gay couples is 60% higher than opposite-sex couples (source: OpusComm Group)
  • Compared to the national average, gay people are three times more likely to choose to live in racially, ethnically and culturally diverse communities (source: Gertler and Vinodrai)
  • Creative and innovative people driving the tech economy seek places high in cultural, racial and ethnic diversity, including gays and lesbians (source: Gary Gates and Brookings Institute)