The Power of Gay: Buying Power That Is

Politically, the GLBT community is still less than accepted today, but, as times are changing, people are starting to consider the financial power within the GLBT community as a force.

It was estimated in 2006, approximately 15.3 million GLBT consumers held buying power of over $600 Billion, and it came closer to $700 billion in 2007.

According to Harris/Witeck-Combs, 72% of GLBT consumers prefer to buy from companies that advertise to them directly, much like various other consumer groups.

Simmons research also shows that 89% of GLBT consumers are more likely to seek out brands advertised to them, and a majority are willing to pay premium prices for quality products and services.

One explanation for this. the median combined household income of same-sex couples is 60% higher than opposite-sex couples. One reason for this, studies show that GLBT Americans are twice as likely to have graduated from college, twice as likely to have an individual income over $60,000 and twice as likely to have a household income of $250,000 or more.

Find more on gay finance here at gayagenda.com.