LGBT Capital, a U.K.-based investment company, estimates the U.S. has more than 17 million LGBTQ+ people with more than $1 trillion in spending power.
“For every one customer knocking the display over, there are 10 who love it, and they are going to vote with their feet,” said Allen Adamson, co-founder and managing partner of marketing firm Metaforce.
That’s an abrupt change from last year, when a majority of negative social media posts were focused on brands being “inauthentic” and not truly supporting the LGBTQ population even as theyIn May and June of 2022, there were fewer than 400 posts calling for Pride-related boycotts, RILA said. This year, in May alone there were more than 15,000.. At least 17 states have enacted laws restricting or banning gender-affirming care for minors, most since the start of this year.
23%, according to Bump Williams Consulting. Target’s shares have plunged 20% since mid-May, wiping away $15 billion in market value, although that’s partly due to investor concerns about inflation’s impact on shoppers. Suzanne Ford, the executive director of San Francisco Pride, said she understands that companies are facing difficult decisions but they also know that the LGBTQ+ community is watching very closely this year.
When Anheuser-Busch’s multi-year sponsorship agreement with Miami Beach Pride ended in 2021, the organization signed a new multi-year contract with Molson Coors. Robert Legere, director of sponsorships for Miami Beach Pride, noted that Molson Coors’ seltzer brand Vizzy made a $1 million donation to the Human Rights Campaign, an LGBTQ+ group.
Ford, the executive director, said Anheuser-Busch has been a longtime patron and increased its donation to San Francisco Pride this year. The group relies on its sponsors to keep its two-day, $3 million festival free, Ford said, and its costs for labor and security are skyrocketing.
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