What is the potential of pink economy?

With the increasing tolerance of the society to gay groups, the pink economy has become a new force. The last time people talked about the pink economy in such a big way was in June 20 14, when Apple CEO Cook came out. This time, the legalization of same-sex marriage in the United States has made businesses extremely excited. Not only American companies, but also enterprises in Australia and other countries that have not yet achieved legal status are also ready to go.

Aside from legal and moral discussions, the economic significance of legalizing same-sex marriage in the United States is a topic worth chewing.

Not only in the United States, but also on a global scale, how strong this group's spending power is and what are the characteristics of consumption are worthy of business attention. Let's talk about this this time, in the name of pink economy.

How much attention does the merchant attach to it?

Jewelry industry and fashion field have launched actions to tailor products for this group, and wedding companies are also gearing up.

The "gay economy" has long been playing a role in the American people. According to a survey data of 20 1 1 in the United States, the consumption power of "gay groups" is three times that of ordinary consumers, and the average unit price of the goods concerned is also higher.

As soon as the news of the legalization of same-sex marriage in the United States came out, major fashion brands made congratulatory speeches. Marc jacobs hangs a rainbow flag representing the gay social movement on social networking sites; Coach's official title advocates marriage equality; Stella mccartney launches rainbow cake; Of course, there are also supermodels and fashion editors who say that love will win.

After the US Supreme Court declared same-sex marriage legal, the share prices of jewelry brands Tiffany and Signet Jewelers both rose by at least one percentage point. Investment analysts said that this decision of the US Congress will stimulate more gay people to get engaged and bring opportunities to the jewelry sales market.

Forward-looking Tiffany took the lead in launching a poster of male couples sitting next to each other in official website on June 5438+ 10 this year. Tiffany said that marriage is no longer "linear" and love stories take many forms. The launch of this advertisement is to broaden the brand's "marriage view" and enter the gay market.

Legalization of same-sex marriage will not only affect the jewelry industry, but also bring some changes to the whole fashion trend. In the past 20 16 Milan Men's Wear Week, you must have noticed that Prada, Gucci and many other big brands have created a "gender-free" style with soft men's wear.

What is their economic level?

The possibility of owning a holiday home is twice as high as that of heterosexuals, and their loyalty to the brand is high.

The US Supreme Court ruled that same-sex marriage was constitutional, and its supporters were overjoyed. Even in Texas, the most conservative state in the southern United States, it is an all-night carnival.

Statistics show that the acceptance of homosexuality is closely related to the basic index of economic development-per capita economic output. Attitudes towards homosexuals are also related to a series of other economic and social development indexes, such as entrepreneurial level, living standard and life satisfaction, human development index level, urbanization level and so on.

The results of a transnational study conducted by Peterson Institute for International Economics show that the attitude towards homosexuality is related to the level of globalization and the economic strength of countries under the premise of controlling other variables.

According to the recent survey data of Simmons Market Research Bureau, a gay consumer is twice as likely to own a holiday home, 5.9 times as likely to own a home theater system and 8 times as likely to own a laptop.

What excites entrepreneurs and investors even more is that this group has higher loyalty, can bring high-quality UGC (user-generated content) in product marketing activities, and has strong propaganda ability.

This market is also full of loyal consumers, who have attracted the attention of many companies around the world. "Like dolce & gabbana (Dolce &; International brands such as Gabbana value gay consumers, not only because the dress of this group is more exquisite than that of heterosexuals, but more importantly, because they are also trend leaders. "

What is the potential of this market?

Brazil's LGBT market is worth 300 billion lira (about 654.38+03.3 billion US dollars), second only to Europe and America. There are at least18,000 gay couples waiting for the legalization of marriage in Australia.

This is a very potential market, and the economic activities facing this market have been given a nice name-"pink economy". The name comes from Paul Thompson.

Thompson is a practitioner of "pink economy". He founded an organization "LGBT Capital Company" to provide special financial consulting services for LGBT (short for lesbian, gay, bisexual and transgender). In just 20 13 a year, Thompson's company can invest $6,543.8 billion in the global gay market. Thompson firmly believes that the LGBT community has economic strength that cannot be underestimated, and believes that the "pink economy" will make a big difference.

Globally, the population of LGBT exceeds 400 million, and its consumption power is 3 trillion US dollars. Gay men and lesbians are far superior to consumers in any ordinary market in terms of participating in travel, owning houses and cars, buying clothes and electronic equipment, and having disposable income.

Brazil's data are equally amazing. Thompson said that the LGBT market in Brazil is worth 300 billion riels (about 654.38+03.3 billion US dollars) and is still growing. According to this estimate, Brazil's gay market is second only to Europe ($870 billion), the United States ($750 billion) and China ($300 billion).

According to the statistics of the University of Queensland, there are at least18,000 gay couples in Australia waiting for the legalization of same-sex marriage. Merchants are also looking forward to this historical moment. "Once same-sex marriage is legalized in Australia, it will bring huge business to hotels, wedding restaurants, photographers and flower shops, not to mention clothes, rings and honeymoons."

Supporters estimate that the average wedding cost in Australia is about 35,000 Australian dollars (equivalent to 27,000 US dollars or 6,543,800+8,000 pounds). Rodney Croom, the leader of the Australian Marriage Equality Organization, said: "According to the Williams Institute of the University of California, Los Angeles (UCLA), which specializes in the economic impact of marriage equality, the most conservative estimate of the cost of same-sex couples holding a wedding in Australia is 65,438 Australian dollars +0.6 1 100 million Australian dollars, with a maximum of 600 million Australian dollars."

In addition, Australia's failure to achieve marriage equality has another disadvantage, that is, it cannot attract those skilled immigrants and investors. For them, non-discriminatory laws are very important.