Gay/Lesbian Consumer Study Offers Insights for Retailers

I haven't had a RetailWire post in a while so to catch up, we'll devote the rest of this week's posts to the site. Starting off with a discussion about the interesting results coming out of a gay/lesbian consumer study. The firm that did the research claims that it is "the most comprehensive view yet into psychographic and demographic data on the gay community."

The results include the following statistics:
  • 46% of gay men and 65% of lesbians are partnered or live with a significant other
  • 20% of lesbians and 5% of gay men have children under the age of 18 living at home.
  • For gay men, the median household income is $83,000 per year, while for lesbians, it is $80,000 per year
  • Gay and lesbian publications were read most often by both genders, although national "mainstream" publications also fared well (The New York Times, Men's Health, GQ, People, AARP and O
  • 85% of gay men and lesbians agreed advertising in gay media favorably influences their purchasing decisions
  • 89% of gay men and 92% of lesbians reported that the way a company treats its gay and lesbian employees impacts their decision to do business with that company, with the majority (52% and 59% respectively) saying this was strongly positive
  • 85% of gay men and 91% of lesbians report that their purchasing decisions are favorably influenced by corporate sponsorship of gay events and participation in gay charities.

Takeaway for retailers - There is no single LGBT community in terms of consumer statistics so you cannot reach them with "one type of campaign or communications channel for any targeted communications efforts from advertising to sponsorships." Instead of the shotgun approach frequently used until now, you can use the data from this research to more effectively target this market.

Another research report that backs up this data shows that 70% of the LGBT community "have switched products or services after learning a company had policies they considered inimical to the community...24% report switching to another brand that was said to actively support GLBT causes..66% osaid they were likely to remain loyal to a brand if it was supportive of the community--even if another brand offered a lower price or was more convenient."

Bottom-line: The GLBT community "are among the consumers most motivated to vote with their dollars" and "as a group, gay and lesbian consumers hold greater brand loyalty than do their straight counterparts."


Posted by Universal Ad


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