LGBTQ+ shoppers, like most other groups in our society, harbor unique consumer trends that set them apart from everyone else in the retail market. Keep reading to learn about specific trends for LGBTQ+ consumers.
Value Independent and Locally Owned Businesses
LGBTQ+ consumers are “value-conscious” shoppers who exhibit a strong support for independent and locally owned businesses. This supportive base of consumers is dedicated to local enterprises and will take extra effort to support independent and local businesses over large national and international chains. Yes, that includes your campus bookstore!
They LOVE Bookstores!
One of the biggest quirks among LGBTQ+ consumers is their over-arching love for bookstores. In fact, LGBTQ+ households are 72% more likely to shop at bookstores than the average U.S. household. That’s some serious customer love for stores like yours! Keep your LGBTQ+ consumers in mind as you conduct operations for your store.
They Shop More and Spend More
LGBTQ+ consumers, on average, make more shopping trips per week and spend more at the cash register. LGBTQ+ consumers make 10% more trips to the store and spend about 7% more. All-in-all, these shopping trips amount to about $80 billion spent at retail stores annually. If you notice some repeat shoppers at your campus retail store, it’s likely some of them belong to the LGBTQ+ community.
Willing to Spend More for What Matters
LGBTQ+ shoppers are overwhelmingly prepared to spend extra money to support a brand or business whose values are in-line with their own – especially those showing dedication to diversity and inclusion. They’re willing and able to spend more to support brands and businesses that support them.
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