Reportlinker Adds The Pursuit of Pink Money: Gay and Lesbian Spending Patterns

Oct 26, 2010, 09:25 ET from Reportlinker

NEW YORK, Oct. 26 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

The Pursuit of Pink Money: Gay and Lesbian Spending Patterns

http://www.reportlinker.com/p0318782/The-Pursuit-of-Pink-Money-Gay-and-Lesbian-Spending-Patterns.html

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

List of Contents and Tables

Executive Summary .... 1

Demand Factors 1

The Gay Consumer . 2

Chart 1 Number of Potential Gay and Lesbian Consumers by Country 2009 .. 3

Market Opportunities .... 4

Company Developments 4

Outlook . 5

Definitions .. 6

Identifying Gay and Lesbian Consumers 6

Bisexuals and Transgendered People ..... 6

Gay/LGBT Marketing ... 7

Legal and Social Issues ..... 7

Legislation .. 7

Summary 1 Gay Rights in Selected Countries 2009 ....10

Changing Attitudes Towards Homosexuality .....11

Gay Events .13

Gay Influence on "Metrosexuals" ....14

The Gay and Lesbian Market .15

Size of Market ..15

Table 1 Estimated Number of Gay and Lesbian People in Selected Markets 2004/2009 .16

Table 2 US Cities With Largest GLB Populations 2006 ...18

Spending Power of LGBT Consumers ....18

Chart 2 Purchasing Power of the US Gay and Lesbian Market 2003/2008/2011 ..19

Table 3 Impact of Recession on Spending Behaviour in the US, October 2008 ....21

Consumer Profiles 21

Market Segmentation ...21

Chart 3 US Gay and Lesbian Consumer Segmentation 2007 ..22

Gays and Lesbians: Two Distinct Markets ...23

Summary 2 Gay and Lesbian Trends in the UK 2005..24

Demographics ..24

Lifestyles ....25

Summary 3 Gay and Lesbian Lifestyle Trends 2007 ...26

Consumer Characteristics ..27

Table 4 Gay Employment and Education in the UK 2007 .28

Table 5 Attitudes Towards Health and Fitness Among Gay Men 2007.....29

Attitudes Towards the Environment .30

Table 6 Attitudes Towards Environmental Issues in the US in 2009 ..30

Gay Icons ...31

Media and Communications ..32

Hunger for Media Consumption 32

Television Viewing .32

Print Media 34

Internet Usage ..35

Table 7 Gay Website Traffic 2007 35

Chart 4 UK: Secondary Mobile Phone Use by Gay Consumers 2009 .36 Strategy Briefings: Pink Spending World

Consumer Market Trends .....37

Overview ....37

Table 8 The Global Market for Pet Products 2004/2009 ...37

Table 9 Top Purchasing and Expenditure Categories for Gay Men in the US 2007 ....38

Table 10 Top Expenditure Categories for Gay and Lesbian Consumers in the UK 2008 ....39

Travel and Tourism 39

Summary 4 Top 10 Destinations Within the US for Gay and Lesbian Travellers 2009 .....40

Summary 5 Gay-friendly Travel Companies 2009 43

Men's Grooming.....44

Table 11 The Global Market for Men's Grooming Products 2004/2009 .....44

Alcoholic Drinks ....45

Table 12 The Global Market for Alcoholic Drinks 2004/2009 ..45

Finance 46

Company Activity 47

Gay-friendly Companies ....47

Chart 5 Companies Perceived to Be Gay-friendly in the US 2008 47

Less Gay-friendly Companies ..48

Chart 6 Companies/Brands Perceived to Be Least Gay-friendly in the US 2008 ..49

Gay-friendly Policies ...49

LGBT-friendly Companies: Case Studies .....50

Advertising Trends .52

Chart 7 Ad Spending in Gay and Lesbian Publications in the US 2003-2006 .52

Summary 6 Consistent Advertisers Through Gay Media in the US 2009 ..54

Future Outlook .....55

Trends to Watch .....55

Consumer Market Opportunities 57

Recommendations ..59

Summary 7 Gay Marketing: Opportunities and Recommendations .....60

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Nicolas Bombourg

Reportlinker

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