As Straight Finance Walks, Gay Money Talks

Companies should be concentrating their efforts to target gay and lesbian consumers following new findings from the Gaydar Spending and Lifestyle Survey.

The company has found the GLBT consumer sector has been largely unaffected by the encroaching credit crunch providing a valuable source of revenue for companies. Almost 50% of the people gay people surveyed said the weak economy was nowhere to been seen on their financial radar.

Some 81% of GLBT people have credit cards and they hold an average of 3.12 cards each. Of those, 52.1% pay back the balance in full each month.

The report also found that gay and lesbian consumers are not using their cards just to keep financially afloat. Some 51.6% are still spending on holidays, 47.5% on clothes and 62.3% are internet shoppers (excluding groceries).