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What is the Gay Market?
Gays and lesbians are sometimes elusive to quantify, but major advertisers have increasingly found that their efforts are well worth the investment to find them and for good reason. A recent study conducted by the Connecticut-based Greenfield Online, found that the average annual household income for gays and lesbians is US$57,000. The New York-based Company, Spare Parts, Inc., which helps companies market to gays, estimates that the United States gay and lesbian population is between 15 million to 23 million. According to another study (Inter@ctive Week, August 30, 1999. Pg. 20.), the US gay community consists of over 19 million people with an estimated buying power of US$800 billion. Asia has more than half of the world’s population, which is more than 10 times the US population.
Below is a benchmark that helps to bring this market more into focus, allowing us to compare it to other diversity niche communities in the US marketplace.
Travel Industry in the Gay Market
As the gay market has grown and developed over the past 30 years, it’s been the travel industry which has embraced and been at the forefront in marketing to the gay community. The world of Gay Travel is the most diverse and mature. There are companies dedicated exclusively to gay travel marketing and business associations solely for the world of gay travel. The size of the gay travel market, in terms of buying power, is what attracts advertisers the most. Based on the Travel Instition of the US travel market at US$1.3 trillion, the GLBT portion, at a low 5% population estimate, comes to US$65 billion. As mentioned earlier, Asia’s population is more than 10 times of US, when you double that figure, it is US$130 billion!
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