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The most profound trend affecting the gay and lesbian market may be the increasing acknowledgment by American society and legal institutions of marriage equality for gay men and lesbians. The expansion of same-sex marriage and other forms of civil unions over the past decade is triggering an increase in the visible numbers of gay and lesbian family households and consequently an expanding market for consumer goods and services of all kinds. The growing number of gay and lesbian parents means that a substantial number of gay and lesbian family households generate significant expenditures on children as well as on adult household members.
Moreover, survey research shows that gay and lesbian consumers are more optimistic than other consumers about future economic growth and their own personal financial condition. This basic sense of optimism prevailing among gay and lesbian consumers suggests that they are more willing than other consumers to spend on products and services in the wake of the most severe economic downturn in 70 years.
This completely new 6th edition of Packaged Facts Gay and Lesbian Market in the U.S.: Trends and Opportunities in the LGBT Community provides marketers with the analysis and insights they need to help them succeed in a consumer segment whose buying power is fast approaching $800 billion. The report begins with an assessment of strategic trends shaping the gay and lesbian market and identifies opportunities available to marketers interested in reaching out to gay and lesbian consumers. It continues with a detailed analysis of the social and political trends affecting the gay and lesbian market and provides a forecast of the growth of the buying power of gay and lesbian consumers through 2014. The next two chapters provide a demographic profile of the gay and lesbian population and an analysis of where gay men and lesbians live. Another chapter provides an overview of gay and lesbian consumer behavior and focuses on topics such as shopping behavior, brand loyalty and the importance of eco-friendly corporate policies on the buying decisions of gay and lesbian consumers. The report then provides a detailed look at gay and lesbian consumers in the areas of financial services, travel and pet ownership and a chapter on trends in gay media that includes an analysis of gay and lesbian usage of digital media. The report concludes with a chapter on marketing approaches to gay and lesbian consumers that includes an analysis of the impact of gay-friendly corporate policies and gay-themed advertising on the purchasing decisions of gay and lesbian consumers.
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