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United We Stand says gay marriage good for market

by Susan Marie Kovalinsky | February 27, 2010 at 07:25 am

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“Studies consistently show that gay and lesbian consumers are far more likely to focus their spending on companies that sensitively and specifically reach out to them. . . “LGBT consumers place a high value on brands, including health insurance companies, that earn and grow respect within the community.

Colleen Demody, VP Witeck-Combs Communications,United We Stand, Buffalo, 2-27-10

Having conducted some media and market analysis, United We Stand has concluded that gay marriage is good for the US market.

Change and innovation are the driving forces of the business market, they argue, and opportunities abound with gay marriage in the culture.

Texas based Merge Media has said that the gay market in the US is vast. The buying power of the gay segment is said to be roughly 800 billion.

Brand allegiance is another plus: With gay audiences being particularly loyal to chosen brands.

Many gays tend to have refined and expensive tastes, travel often, and make top incomes.

Merge Media, with a client list that includes BMW, Coors and Hotels.com, said 89 percent of LGBT adults are highly likely to seek out a brand that advertises in gay media, and three out of four have a strong preference for a brand that markets directly to them.
One in four LGBT adults reported switching brands recently to a competing company that supported LGBT. Plus, LGBT adults are far more tech savvy (twice as likely to own a WiFi laptop and three times as likely to conduct financial transactions online), are twice as likely to have a portfolio worth more than $1 million, and twice as likely to have an annual income greater than $250,000.

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stejeb

at 07:52 on February 27th, 2010

Nice article, this is the sort of news that could change attitudes, certainly within the medias, their constant search for new advertisers and markets to explore could see in fairer and broader cover of gay issues.

Barry ORegan

at 08:41 on February 27th, 2010

Hell Yeah, that a no brainer, gays moving into fixer upper neighbourhoods increase property values in a very short time.

Hugh Askew

at 13:13 on February 27th, 2010

I don't know who is doing the math here (or in the article), but this low IQ bumpkin says that he don't believe the numbers are accurate as written.

An 800 billion dollar market? Really. From 2% of the adult population? That would be a market of over $125,000 annually. I do not believe that is even close to reality. Sounds like a con job for selling businesses on the idea that they are missing something. Now, now, i'm sure 'gays' would never stoop to deception, but i do think they need to buy a calculator.

The NGLCC estimates median income at ± $80,000.00 a year for homosexual men & women, which would mean someone is doubling their numbers &/or engaging in some pretty creative marketing - or perhaps homosexuals just have some incredible credit card bills..