The LGBTQ+ community holds serious spending power in local and global economies. Keep reading to learn exactly how impactful queer consumers are and how their support can be a tremendous boon for your retail store.
Global Spending Power
Millions of LGBTQ+ people across the world find themselves in favorable financial position. In fact, global spending power for the LGBTQ+ community currently stands at $3.9 trillion. This is a gigantic sum of potential revenue that any business with common sense should try to cater to.
High Income Households
Recent studies show that LGBTQ+ households, on average, earn twice the national household income. Several factors can be attributed to this statistic, but the fact remains that queer households are high earners with valuable spending power. LGBTQ+ shoppers in your store have ample opportunities to increase your revenue.
Fastest Growing Minority Segment
LGBTQ+ shoppers are the fastest growing minority segment in the U.S., meaning we’ll see more and more LGBTQ+ individuals as it becomes safer for them to live as their true selves. As more and more LGBTQ+ individuals make themselves known, their already staggering global purchasing power previously mentioned will increase even more.
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