The Pursuit of Pink Money: Gay and Lesbian Spending Patterns
Gay marketing is still in its infancy and holds plenty of potential for future growth, as long as campaigns are handled sensitively. Gay and lesbian consumers will continue to present a loyal consumer base for those willing to address their particular needs and preferences.
While the true number of gay and lesbian consumers as a proportion of the population is unlikely to change, the increasing openness of society in most countries, and the growing awareness and tolerance of diversity means that people will be freer to "come out" in the future, and less concerned about hiding their sexuality.
The greater affluence and high level of optimism among gay and lesbian consumers makes this group an attractive niche for marketers to tap into while the global economy remains in the doldrums.
The advance of the gay rights movement will improve conditions for gay and lesbian people in developed markets, and will open up new markets over the forecast period. For example, in the US, gay marriage is likely to spread to further states.
The "pink renminbi" holds particular potential for marketers in the future, given that there are a potential 66 million gay and lesbian consumers in China, although at present the barriers for tapping into the Chinese gay market are numerous.
Companies are also likely to begin looking at the Indian market, now that homosexuality has been decriminalised. Absolut Vodka is already sponsoring gay bars and clubs in this market.
In the future, a higher level of research will be undertaken into the gay market and its sub-groups. A major breakthrough will come when governments begin asking people about their sexual orientation via national censuses and other surveys.
The growing use of blogs and social networking by gay consumers will create new opportunities for approaching this market. The further development of Web 2.0 technology will lead to a shift towards more interactive campaigns over the forecast period.
The gay travel market holds strong potential for further development, especially in the area of cruising and gay-friendly hotels. More mainstream players will be looking to take a stake in this expanding segment, while cities and resorts will scramble to become the next big gay-friendly destinations.
Male grooming products is expected to be one of the best performing sectors of the cosmetics and toiletries market over the forecast period, and the growing interest in premium products among gay male consumers is one factor that will contribute to this growth.
All subsectors of men's grooming are set to grow globally by an annual average of 1-3% between 2009 and 2014, except skin care, which is forecast a rather stronger CAGR of 8%.
Euromonitor International's The Pursuit of Pink Money: Gay and Lesbian Spending Patterns Strategy Briefings is a series of reports that alert you to global trends predicted to influence consumer markets. They offer insight to changing market conditions and the opportunities and challenges companies need to consider to maintain a competitive advantage
While the true number of gay and lesbian consumers as a proportion of the population is unlikely to change, the increasing openness of society in most countries, and the growing awareness and tolerance of diversity means that people will be freer to "come out" in the future, and less concerned about hiding their sexuality.
The greater affluence and high level of optimism among gay and lesbian consumers makes this group an attractive niche for marketers to tap into while the global economy remains in the doldrums.
The advance of the gay rights movement will improve conditions for gay and lesbian people in developed markets, and will open up new markets over the forecast period. For example, in the US, gay marriage is likely to spread to further states.
The "pink renminbi" holds particular potential for marketers in the future, given that there are a potential 66 million gay and lesbian consumers in China, although at present the barriers for tapping into the Chinese gay market are numerous.
Companies are also likely to begin looking at the Indian market, now that homosexuality has been decriminalised. Absolut Vodka is already sponsoring gay bars and clubs in this market.
In the future, a higher level of research will be undertaken into the gay market and its sub-groups. A major breakthrough will come when governments begin asking people about their sexual orientation via national censuses and other surveys.
The growing use of blogs and social networking by gay consumers will create new opportunities for approaching this market. The further development of Web 2.0 technology will lead to a shift towards more interactive campaigns over the forecast period.
The gay travel market holds strong potential for further development, especially in the area of cruising and gay-friendly hotels. More mainstream players will be looking to take a stake in this expanding segment, while cities and resorts will scramble to become the next big gay-friendly destinations.
Male grooming products is expected to be one of the best performing sectors of the cosmetics and toiletries market over the forecast period, and the growing interest in premium products among gay male consumers is one factor that will contribute to this growth.
All subsectors of men's grooming are set to grow globally by an annual average of 1-3% between 2009 and 2014, except skin care, which is forecast a rather stronger CAGR of 8%.
Euromonitor International's The Pursuit of Pink Money: Gay and Lesbian Spending Patterns Strategy Briefings is a series of reports that alert you to global trends predicted to influence consumer markets. They offer insight to changing market conditions and the opportunities and challenges companies need to consider to maintain a competitive advantage
EXECUTIVE SUMMARY
Demand Factors
The Gay Consumer
Market Opportunities
Company Developments
Outlook
DEFINITIONS
Identifying Gay and Lesbian Consumers
Bisexuals and Transgendered People
Gay/lgbt Marketing
LEGAL AND SOCIAL ISSUES
Legislation
Changing Attitudes Towards Homosexuality
Gay Events
Gay Influence on "metrosexuals"
THE GAY AND LESBIAN MARKET
Size of Market
Spending Power of Lgbt Consumers
CONSUMER PROFILES
Market Segmentation
Gays and Lesbians: Two Distinct Markets
Demographics
Lifestyles
Consumer Characteristics
Attitudes Towards the Environment
Gay Icons
MEDIA AND COMMUNICATIONS
Hunger for Media Consumption
Television Viewing
Print Media
Internet Usage
CONSUMER MARKET TRENDS
Overview
Travel and Tourism
Men's Grooming
Alcoholic Drinks
Finance
COMPANY ACTIVITY
Gay-friendly Companies
Less Gay-friendly Companies
Gay-friendly Policies
Lgbt-friendly Companies: Case Studies
Advertising Trends
FUTURE OUTLOOK
Trends To Watch
Consumer Market Opportunities
Recommendations
Demand Factors
The Gay Consumer
Market Opportunities
Company Developments
Outlook
DEFINITIONS
Identifying Gay and Lesbian Consumers
Bisexuals and Transgendered People
Gay/lgbt Marketing
LEGAL AND SOCIAL ISSUES
Legislation
Changing Attitudes Towards Homosexuality
Gay Events
Gay Influence on "metrosexuals"
THE GAY AND LESBIAN MARKET
Size of Market
Spending Power of Lgbt Consumers
CONSUMER PROFILES
Market Segmentation
Gays and Lesbians: Two Distinct Markets
Demographics
Lifestyles
Consumer Characteristics
Attitudes Towards the Environment
Gay Icons
MEDIA AND COMMUNICATIONS
Hunger for Media Consumption
Television Viewing
Print Media
Internet Usage
CONSUMER MARKET TRENDS
Overview
Travel and Tourism
Men's Grooming
Alcoholic Drinks
Finance
COMPANY ACTIVITY
Gay-friendly Companies
Less Gay-friendly Companies
Gay-friendly Policies
Lgbt-friendly Companies: Case Studies
Advertising Trends
FUTURE OUTLOOK
Trends To Watch
Consumer Market Opportunities
Recommendations
