The buying market is divided into several different categories based on demographics and sociographics. A category often ignored by advertisers, marketers and businesses is the gay culture. In 2009 alone, gays and lesbians accounted for $712 billion of buying power. DAYUMMM…THAT’S A LOT OF MONEY. Right?
Like most other cultural groups, gays and lesbians have their own scope through which they view advertisements and new products. If culture is what defines who we are and what our brand identity is, than it would make sense to cater to the gay population who tend to be very brand loyal.
Twenty-six percent of gay men claim that they are early adopters and are the first to know about products and services. Eighteen percent of lesbian women claim the same thing.
Sixty percent of gays, lesbians, bisexuals and transgender also say that people often ask for their advice when it comes to products or services, versus 34% of the general population.
It seems that America is missing out on prime marketing real estate, which makes one wonder if we can really afford that in this economy.
My guess is probably not.