Media advocacy organization GLAAD has released the results of a survey conducted by Ipsos that examines consumer sentiment regarding corporate engagement with LGBTQ communities and Pride Month. The survey also sought consumer opinion on core corporate values and on chief executives’ obligations to shareholders on issues that matter.
Key findings
Seventy percent of Americans say knowing a brand/store offers LGBTQ Pride collections/merchandise either has a positive impact or no impact on their purchasing decisions.
Seventy-one percent of Americans agree that brands and companies should be able to show support to the LGBTQ community during Pride month if they want to.
Sixty-four percent of Black Americans, 55 percent of Hispanic Americans, and sixty percent of those ages 18-34 say they are comfortable with brands publicly supporting LGBTQ organizations and non-profits.
Eighty-five percent of Americans believe CEOs have a responsibility to speak up about things that matter to their consumers and shareholders
Eighty-one percent believe freedom means we all should be able to believe and behave as we choose, as long as it isn’t hurting anyone else.
Seventy-four percent believe companies should care about their bottom lines more than politics.
Americans are more likely to agree than disagree that offering LGBTQ Pride merchandise is no different from offering merchandise with a sports team logo.
“Support for LGBTQ people and employees remains a business imperative that bonds companies to consumers and unites our country,” says Sarah Kate Ellis, President & CEO of GLAAD. “Companies and leaders must listen to consumers who are demanding that brands prioritize values of freedom, inclusion and growth over rank politics. With LGBTQ, Black, and Hispanic consumers growing exponentially, companies that bow to opponents of inclusion will miss out on key growth segments.”
According to Gallup, the percent of LGBTQ Americans is up over 160 percent since 2012. According to Pew Research, the number of Black Americans is up thirty-three percent since 2000 and the number of Hispanic Americans is up righty-five percent.
In 2022, purchasing power of LGBTQ consumers was estimated to be $1.4 trillion. Purchasing power of Black consumers is estimated to reach $1.7 trillion by 2030.
Findings of survey consistent with data demonstrating widespread support for LGBTQ Americans
Ninety-one percent of non-LGBTQ Americans agree that LGBTQ people should have the freedom to live their life and not be discriminated against (GLAAD).
Sixty-one percent of non-LGBTQ adults are very or somewhat supportive of the LGBTQ community (MRI-Simmons), totaling over 160M allies in the U.S. alone.
Fifty-one percent of non-LGBTQ adults say companies/brands should support the LGBTQ community all year, not just during Pride month (MRI-Simmons).