The U.S. LGBTQ community’s total buying power—a significant $884 billion—is greater than the total GDP of largely populated countries like Argentina. Below are some of the top purchases of LGBTQ consumers.
1. Wine, Beer and Liquor
LGBTQ consumers are 48 percent more likely to purchase wine, 27 percent more likely to purchase beer and 35 percent more likely to spend on liquor.
2. Digital Devices & Other Electronic Products
We’re twice as likely than our heterosexual counterparts to say “I need to be connected to the Internet from the moment I wake up until the moment I go to bed,” according to a 2015 Experian LGBT consumer report. LGBTQ consumers are 43 percent more likely to invest in new tech.
3. Pet Care
LGBTQ consumers 36 percent more likely to purchase pet care supplies.
We’re 19 percent more likely to invest in a cup of Joe.
5. Shaving Needs & Men’s Toiletries
Famed gay identified vlogger and hairstylist Kyle Krieger is often seen using products from the Art of Shaving on his YouTube channel with more than 46 thousand followers. If that’s not a plug, it should be. LGBTQ consumers are 32 percent more likely to purchase shaving supplies and 32 percent more likely to purchase men’s toiletries.
Motivate is the leading specialized insights and media partner for reaching for reaching the LGBTQ community through authentic, relevant and targeted media. You need a trusted media partner that understands the impact of changing demographics and helps you navigate the marketing maze. We understand the nuances and intricacies of the LGBTQ market and have the resources and expertise to ensure maximum buying power, impact and ROI.
Source: Nielsen, Experian.