Wednesday, June 4, 2008
The Gay and Lesbian Market
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)