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The estimated $3.7 trillion potential at the end of the rainbow

Published On : May 31, 2019

The global buying power of the LGBTQI+ community is nearing $3.7 Trillion; markets of ANZ $72 Billion, UK $137 Billion, USA $1 Trillion, accounting for an estimated 35% of the combined buying power.

The financial clout represented by the LGBTQI+ consumer segment remains a key factor in securing positive change in terms of LGBTQI+ rights and inclusion. Ahead of 'Pride Month' the month recognised since 1970, one year after the Stonewall Rebellion which took place on June 28th, 1969, commemorating the impact the riots had on society.

It’s important not to look at today’s increase of LGBTQI+ acceptance as a trend. It isn’t something that’s in today and out tomorrow. The community represents real buying power, and it’s only growing.

Joocd.com had been aware that members of the LGBTQI+ community would feel more positive towards a brand that talks to today’s community in an authentic way. Many brands have tried, but it has always felt like tokenism, in many cases.

The platform was created to specifically enable branded content to be created by the community and for the community. Ensuring authenticity and to help connect brands and influencers to make it more than just tokenism.

Surprisingly, 66% of LGBTQI+ individuals say, “I don’t see my lifestyle represented in advertising” and 51% saying, “I wish I could see more advertising with families like mine." Yet, except for a handful of examples, brands are yet to embrace the ever-growing buying power of the LGBTQI+ community at scale.

Whilst other influencer platforms do a great job, the messages are mainstream and mass-market. Reaching the LGBTQI+ community specifically has therefore been through luck more than intention.

Joocd.com will specifically recruit through the community and encourage more specific messaging, albeit that is entirely up to the brands and the influencers using the platform.

For more information about influencer marketing and partnering with the LGBTQI+ community, visit Joocd.com

Source Citation:
http://www.lgbt-capital.com/
https://hornet.com/about/queer-people-hornet-kantar/