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Gay Buying Power Projected at $641 Billion in 2006 - Open Knowledge — LiveJournal

Nov. 16th, 2006

07:44 pm - Gay Buying Power Projected at $641 Billion in 2006

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Gay Buying Power Projected at $641 Billion in 2006...


WASHINGTON, Feb. 14 /U.S. Newswire/ -- The total buying power of the U.S. gay, lesbian, bisexual and transgender (GLBT) adult population in 2006 is projected to be $641 billion, according to the latest analysis by Witeck-Combs Communications and Packaged Facts (a division of MarketResearch.com). The estimate was originally derived in a joint study by both organizations entitled, "The U.S. Gay and Lesbian Market." In 2005, the gay buying power projection was estimated at $610 billion, comparing favorably with the African American, Hispanic and Asian markets.

Comments:

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From:infopractical
Date:November 17th, 2006 04:33 am (UTC)
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That's almost surely an overestimate -- that's around 6% of the entire GDP of the U.S.

Even so, I find it a bit amusing that somebody even tries to tabulate such a number.
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From:harryh
Date:November 17th, 2006 04:42 am (UTC)
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I dunno, 6% sounds about right for % of the population that is gay, so shouldn't they account for about 6% of GDP?
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From:infopractical
Date:November 17th, 2006 04:54 am (UTC)
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I doubt 6% is anywhere near right. Aren't lesbians around only 2% or less? I doubt 10% of men are gay.

I sympathize with the plight of gays, but I feel like they tend to inflate their numbers for the purpose of creating a political front.
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From:harryh
Date:November 17th, 2006 10:22 am (UTC)
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Well, the Kinsey number was 10%, but that's been largely discredited. Most things I've read say that it's closer to 5%. Still that's about right. I agree with you that the gays (or really any group ever that is trying to increase their political influence) have a strong inctentive to over report their numbers and/or economic might, but I feel like the 641B number is probably at least the right order of magnitude. Even if it is double reality, 320B is still pretty big.
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From:pbrane
Date:November 17th, 2006 04:50 pm (UTC)
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Doesn't the average self-identified gay person have a higher than average income? They are almost all adults, a higher percentage of them are under 65 than the percentage of all adults are, and more of them live in areas with a higher standard of living (NYC, SF, LA, SEA, BOS, ...) than the country as a whole.

And more of them are men, and men make more than average...

I don't know if that's enough to make up for only having 3-4% of the population, but that would mean that on average, they'd need to have roughly twice the income? That's probably a bit high, but not too far off.
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From:daphnep
Date:November 17th, 2006 07:27 pm (UTC)
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Plus, smaller numbers of children means more disposable income. I
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