I apologize for the dearth in posts this past week as I have been traveling on business. While I was gone, Witeck-Combs Communications and Packaged Facts circulated a press release that I would be remiss not to mention. In a report called The Gay and Lesbian Market in the U.S.: Trends and Opportunities in the LGBT Community, 6th edition, the two firms project that the buying power of the U.S. GLBT population will be $743 billion in 2010, up from $732 billion in 2009.
It is significant that U.S. GLBT incomes appear to be holding steady despite the worst economic conditions since the Great Depression, especially considering other reports that suggest that gays are more optimistic about the economy in general. For marketers, the implications are clear: the pink dollar is stronger than ever, and the gay community isn’t afraid to spend.