Nielsen’s new report, “Proudly Setting Trends: The 2015 LGBT Consumer Report” gauges the year’s LGBT consumer trends. So how does our community fair when it comes to spending those infamous Pink Dollars?
Retailers, take note of American lesbian, gay, bisexual, and transgender households. U.S. LGBT households not only make 10% more shopping trips in a year than the average non-LGBT U.S. household, but Nielsen’s research indicates we buy more at checkout, too.
“In aggregate, LGBT households spent an average of $4,135 at retail stores in 2014 — 7% more than non-LGBT households,” the report reads.
So, in which direction is the pink dollar flowing?
LGBT consumer were reportedly 72% more likely to have made a purchase from a bookstore in 2014, and in addition, were twice as likely to make return trips than non-LGBT customers. LGBT consumers were also 55% more likely to shop at liquor stores, and 32% more likely to shop at pet stores, where they “outspend the general public” by 35% in pet care products alone.
On the other end of the spectrum, LGBT households were 40% less likely than non-LGBT households to shop at toy stores, department/dollar stores, and on military bases.
Across all music channels, LGBT music fans show higher levels of engagement than their non-LGBT counterparts. For example, LGBT music fans over-index on spending on tickets to attend music festivals (index 123, or 23% more likely), subscribing to streaming services and going to see a DJ they know perform.