Facts and Figures:
America's LGBT 2016 Buying Power Estimated at $960 Billion.
Based on a diverse range of LGBT population estimates, and more than a hundred online population samples conducted by expert research partners at Harris Interactive over twelve years, the 2013 analysis benchmarks approximately 6 to 7% of the adult U.S. population as willing to self-identify as lesbian, gay, bisexual and/or transgender, or between 15-16 million adults (18 years of age and older).
To put this in perspective. Here are the 2016 buying power figures for the top four niche segments, including LGBT:
Hispanic American: $1.4 trillion
African American: $1 trillion
LGBT American: $960 billion
Asian American: $780 billion
Brand loyalty within the LGBT community is especially high. Here are some statistics from Community Marketing Inc. & Harris Interactive:
55% of LGBT consumers will choose to do business with companies that are committed to the diversity/equal treatment of the LGBT community.
70% of LGBT adults stated they would pay a premium for a product from a company that supports the LGBT community.
78% of LGBT adults and their friends, family and relatives would switch to brands that are known to be LGBT-friendly.