They’re also more likely to spend money on music and entertainment, which marketers can leverage to reach this relatively affluent, highly-engaged group of consumers.
LGBT consumers in the U.S. spent an average of $4,135 at retail establishments in 2014, 7% more than non-LGBT consumers, due largely to the fact that they made 10% more visits to retail establishments over the course of the year. At the same time, they also spent 35% more on online purchases, including 122% more on snacks, 73% more on household cleaners, 69% more on coffee, and 67% more on medication.
Turning to specific retail categories, LGBT consumers were 72% more likely than straight consumers to have made a purchase at a bookstore; 55% more likely to have bought something at a beverage store; 35% more likely for convenience stores; 32% more likely for pet stores; and 28% more likely for electronics stores.
They also spent more within these categories: for example, LGBT households spent 48% more on wine, 35% more on liquor, and 27% more on beer, as well as 36% more on pet care and 20% more on pet food.
LGBT consumers are also avid consumers of entertainment and media: in 2014 they were 23% more likely than straight counterparts to buy tickets to music festivals and 26% more likely to subscribe to a streaming music service.
On average they spent 66% more on digital albums. Meanwhile they are 17% more likely to see a movie on opening weekend, and also more likely than straight counterparts to post about a movie at social media, with 68% sharing online versus 58% for non-LGBT moviegoers.
A separate study from Witeck Communications estimated the U.S. LGBT community’s total spending power at $884 billion in 2014.