In a word: absolutely. Even if brands don’t specifically focus on the LGBT consumer, Canada’s marketplace is more diversity-minded than ever before. Positioning brand messaging as inclusive and open appeals not only to historically persecuted groups of people, but future-proofs marketing as well. Diversity, after all, is no longer viewed as a value-added component to be praised, but rather as the cost of entry. Younger people, no matter their sexual orientation, don’t have a frame of reference to a time when inclusiveness was not a given and a value to be fought for.
But ultimately LGBT outreach just makes good business sense. The group’s total before-tax income amounts to roughly $98 billion in Canada, equating to approximately 7.2% of the GDP according to Protean Strategies. This is significant given that the number of LGBTs as a percentage of the total population is slightly under 6%. The LGBT population punches above its weight by approximately 22% (taking into account such factors as having fewer dependents). So if you’re following along, the light bulb should come on right about now: the average LGBT consumer has 22% more spending power than the average Canadian.
Want to connect with Canada’s LGBT community? Don’t miss Marketing‘s inaugural “Connecting With the LGBT Community” conference (happening next Tuesday in Toronto). Click here to attend this can’t-miss event, in partnership with Pride Toronto.
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