Pink dollar

Pink dollar

Pink dollar, also know as the "Dorothy dollar", is a term describing the purchasing power of LGBT individuals in the United States. In the United States gays are some of the most economically advantaged people which personal income with an excess of $50,000 a year [http://www.rainbowreferrals.com/sponsors/statistic.asp] . (Occasionally, the similarly termed "blue dollar" is used specifically for lesbians.) In the United Kingdom, this spending is known as the Pink pound.

Estimates of the US LGBT market put its value at approximately $641 billion in the year 2006. [http://www.witeckcombs.com/pdf/pr/20060214_buyingpower.pdf Gay Buying Power Projected at $641 Billion in 2006] ] in addition, many of these households are known by demographers as DINK — double income, no kids — and generally have more disposable money to spend on things such as designer clothes and furniture, plasma tvs, iPods, and Condominums to name a few . even if they themselves have a relatively moderate income.

Some industries have tried to tap into these markets with specific advertising campaigns; for example, American Airlines saw its earnings from LGBT people rise from $20 million in 1994 to $193.5 million in 1999, after formation of a team devoted to gay and lesbian marketing. [cite news|title=United Tries for Gay-Friendly Skies |first=Michael |last=Arndt |url=http://www.businessweek.com/bwdaily/dnflash/may2000/nf00524b.htm |publisher=BusinessWeek |date=May 24, 2000]

The term "Red Dollar" has also been used to describe the economy spurned by the adult entertainment, products and services industries. First used by publicist Dave Harding of dreamcoat PR, the term was most recently used by Herald Sun journalist John Beveridge to describe the compettion for the "Red Dollar" between two adult entertainment expos in Melbourne, Australia.

ee also

* Pink money
* Pink pound

References


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Look at other dictionaries:

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