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© 2019 Brand|Pride

© 2019 Brand|Pride

The total buying power of the US gay, lesbian, bisexual and transgender adult population is estimated at $917 billion. (Witeck Communications and Packaged Facts. 2016)

The US LGBT travel market is estimated at $84.5 billion, that is 10% of the total US travel industry, while 83% of the LGBT US citizens hold a valid passport, far higher than the average 34% of Americans aged 18 and older. (Community Marketing Inc.)

The LGBT population is second to only the African American and Hispanic populations in terms of spending power of a diverse group and is estimated to have about half the population of each. The total LGBT population is estimated at 16-20 million LGBT people with 1.4 million LGBT owned businesses.

While LGBT individuals are not necessarily wealthier than their heterosexual counterparts, LGBT individuals do have more disposable/fluid income and are highly likely to purchase products and services from corporations know to support LGBT organizations. According to Community Marketing Inc’s Gay and Lesbian Consumer Index reports, 89% of gay men and 29% of lesbians reported that a company’s treatment of its gay and lesbian employees impacts their decision to do business with that company.

Similarly, 88% of gay men and 91% of lesbians reported that their purchasing decisions are influenced by corporate sponsorship of LGBT events and participation in LGBT organizations. Three out of four LGBT individuals have changed brands when a company has exhibited pro LGBT support – simply put, loyalty counts!

As determined by the 2010 and 2011 Survey on LGBT Commerce conducted by Community Marketing Inc., NGLCC members, as compared to other LGBT non-member respondents, are much more likely to:

  • Own or work for an LGBT-owned company.

  • Be an NGLCC LGBT-owned business enterprise.

  • Source products from LGBT-owned/LGBT friendly vendors.

  • Use resources to identify LGBT-owned and LGBT-friendly business and corporations

  • Stop supporting a company that is not LGBT-friendly.

  • Contribute financial to pro-LGBT advocacy organizations, as well as local and national community-based LGBT events and organizations.

  • Contact state/local representatives regarding LGBT and other businesses (non-LGBT) issues.
     

Findings from the US Census Bureau and the Urban Institute report:

  • Same sex couples live in 99% of all counties in the United States.

  • Two thirds (67.6%) of same-sex couples own their own home.

  • At least 2 million LGBT individuals are approaching or have already reached retirement age.

  • By 2020, approximately 5.7 million, or 25% of the LGBT community, will be 50 or older.

  • There are approximately 2.6 million children living with gay parents in the United States.

  • 76% of LGBT individuals have an annual household incomes above the national average of $40K.

  • 30% of LGBT individuals have an annual income above $100,000.
     

Further information regarding the LGBT segment:

  • LGBT people spend an average of 23.3 hours per week on the Internet, 55% more than their heterosexual counterparts (Witeck Communications/Harris Interactive).

  • 80% of LGBT Americans are considered to be heavy users of the Internet (eight or more hours spent on the Internet per week) as compared to 66% of heterosexuals. (Witeck Communications).

  • LGBT individuals take more than three times as many business trips each year when compared to heterosexual counterparts. (Community Marketing Inc.)