3 Aug 2016
Brand leaders who had any doubts about whether or not to specifically target lesbian and guy consumers take note:
The total buying power of the adult U.S. lesbian, gay, bisexual, transgender and queer population is projected $917 billion, as reported by Huffington Post following a Witeck Communucations study.
According to Bob Witeck, “Today improved laws, greater visibility and welcoming attitudes help address some of the longstanding discriminatory burdens that LGBT people and same-sex couples face. Nonetheless, LGBT Americans still confront many forms of legal, economic and social inequities in the absence of federal nondiscrimination laws covering employment, housing, public accommodations, healthcare and other aspects of American society.”
The rise in perceived economic value of the LGBT market has visible effects on both sides of the Atlantic. We’ve seen more, and bigger brands release advertising that specifically appeals to lesbians and gays. Brands like Google, Procter & Gamble, Guinness, Burger King, Hallmark, Coca-Cola, and House of Fraser have all shown their support very visibly in the past few months.