Survey data shows 72% of LGBTQ consumers reduced purchases from brands perceived to roll back diversity initiatives, totaling $1.7 trillion in spending power.
Nearly 72% of LGBTQ consumers reported cutting spending at brands they view as reducing diversity, equity, and inclusion efforts, according to a new survey. Target, Walmart, and Amazon were the most cited companies facing reduced purchases, while 70% increased spending at brands deemed inclusive like Costco and Apple.
The National LGBT Chamber of Commerce estimates LGBTQ consumers contribute over $1.7 trillion to the U.S. economy. The survey highlights a shift in purchasing behavior based on perceived corporate values, with 70% of respondents avoiding brands they see as retreating under pressure.
Companies like Ben & Jerry’s and Delta Air Lines saw increased loyalty, reflecting a trend where authenticity in DEI commitments drives consumer trust and spending patterns.