Gay Market - Pink Profits

TOPICS: Gay market. Lesbian and gay consumer market news. US gay market. Australia lesbian and gay market. Europe gay market. Pink dollar. Gay market and the pink pound. Gay market and the pink euro. Gay market research. Lesbian and gay market news. Gay market trends. Lesbian and gay market research. Gay market identified as one of the trends to watch for 2008.

Ian Johnson, Out Now
August 20, 2007

We were pleased to see Out Now gay market research was included in a recent gay market trends report that discusses the latest market trends your business needs to watch in 2008.

There is now 15 years worth of specialized proprietary gay market research data, from gay markets all across the world, that we use to inform Out Now clients with the best strategic advice on gay market trends, gay market research implications, and evolving gay market changes.

As gay market communications and strategy professionals, at Out Now we advise our clients about just where in the gay market they best need to position their brands, products and services - so as to make sure their brands remain quite firmly in the center of gay market consumers' frames of market attention.

Last month this Pink Profits gay market coverage was mentioned briefly in Gay Market News, but we thought you may appreciate learning more about how the lesbian and gay market has been singled out as one the top three market trends to be tracking as we approach 2008.

Here is an extract from that gay market Pink Profits market trends report:

Many brands now actively target the gay community, as even the most conservative execs have come to realise that there's just too much money to be made from well-to-do, happy-to-spend GLBT consumers.

And merely acknowledging consumers who sadly are used to being ignored if not vilified, does wonders for brand loyalty.

So how much money are we talking about here?

According to PR and marketing firm Witeck-Combs, the buying power of US gays and lesbians will exceed USD 835 billion by 2011. Witeck-Combs' report for this year pegs the 2006 buying power of gays and lesbians at USD 660 billion, an amount that will increase significantly as the gay and lesbian population, estimated at 15.3 million, grows to a projected 16.3 million in 2011. For more numbers, check out their report.

British gays—accounting for around 6% of the population, or about 3.6 million—pocket an estimated USD 130 billion annually. Openly gay men in full-time jobs earn USD 18,000 a year more than the male national average. For lesbians, the premium is USD 12,000. (Source: Out Now Consulting, April 2006.)

Two more sources of PINK PROFITS numbers and examples: Gay Market Express, Gay Market News and Gay Marketing 101.

Gay community and travel - Definitely one of the most developed 'pink industries', there's a bewildering number of gay-friendly and gay-only travel companies out there. Not to mention every country, city and village trying to lure gay visitors. So a brief list of some of the leading companies in this field—to study or emulate—should do:

Olivia, the travel and lifestyle company for lesbians, is a leader in lesbian cruises and resort packages and is also creating an online community.

Atlantis Events is the largest gay and lesbian tour operator in the world, operating all-gay cruises and resorts.

R Family Vacations caters to the non-party-scene, offering relaxed family-friendly cruises for the gay and lesbian community. Kids are welcome, but not essential.

RSVP Vacations offers a selection of gay-friendly and gay-welcoming package holidays and cruises to must-see destinations worldwide.

Orbitz.The online travel company offers a comprehensive range of airfares and rates for accommodation, car hire and other holiday essentials in its gay and lesbian section, with discounts on fares to pride events and charity auctions supporting GLBT community charities.

American Airlines Rainbow—AA has a dedicated GLBT sales team, offering special discounts on air fares to GLBT events.

Retirement & communities - Many gays and lesbians reject the traditional retirement community lifestyle. After years of living freely, they don't want to move back into the closet. So make way for the following alternatives:

RainbowVision has developed gay and lesbian retirement communities in Santa Fe, New Mexico and Palm Springs, California.

Currently under development, Paradise One Condominiums is part retirement community and part upscale condominium, "a progressive community that is as Straight-Friendly as it is Gay Friendly."

Stonewall Communities' vision is to develop and offer a range of options for older GLBT people. Stonewall Audubon Circle, currently under development, will be open to anyone regardless of race, colour, national origin, religion, familial status, age, handicap, gender, sexual orientation, gender identity or gender expression.

The Resort on Carefree Boulevard bills itself as Southwest Florida's premier lesbian destination, with a mixture of full-time and holiday residents ranging in age from 40 to 85 years, both working and retired.

Despite its name, Finnish Mummolaakso ('Grandma Valley') is a solidarity group open to women of all ages, with most members aged between 30 and 60. The organisation aims to provide healthcare and terminal care for lesbians and bisexual women, with the ultimate aim of providing retirement housing services, too.
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