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The new report confirms what many marketing experts and gay business leaders have known for years—gay consumers are not only in tune to company policies on LGBT issues, they also make purchasing decisions based on those policies.
"This is proof positive that LGBT people are concerned about a company's corporate response to the LGBT segment," said Justin Nelson, co-founder and president of the National Gay & Lesbian Chamber of Commerce. "If you're marketing in this space, you should be doing the other things that need to be done. You need to make sure your customer and employee base mirror your supply base, and you need to make sure your supply base mirrors your customer and employee base."
Joining the top five companies considered gay-friendly are Levi's, American Express, Starbucks, American Airlines, Target, Saturn, Subaru and Bacardi, according to the survey.
More than two-thirds, or 68 percent, of gay and lesbian consumers said they are more likely to buy from a company they considered to be gay-friendly, a perception they base largely on a company's advertising, followed by input from friends and the media, the survey found.
Released by Prime Access and PlanetOut Inc., the survey is one of the largest and most comprehensive surveys of gay and lesbian consumer habits and brand perceptions. A total of 2,259 LGBT and straight adults, aged 18 through 64, participated in the survey.
"The study reveals that gays and lesbians are fiercely loyal customers to brands they perceive as reaching out to them," said Howard Buford, president and CEO of Prime Access. "A marketing communications program directed at the gay and lesbian audience can be a significant opportunity for brands to build business."
The study also found that 71 percent of gay and lesbian consumers have a more favorable impression of companies or products that feature gay imagery in their advertising. Buford noted that Levi's recently featured a gay couple in television advertising.
Kevyn Aiken, vice president of Marketing, Media Sales at PlanetOut, said the study also confirms why gays and lesbians represent one of the most coveted and active demographics.
"Gays and lesbians have many similarities to straight people, with one pronounced difference: they're more powerful consumers," said Aiken. "In virtually every category—from financial services to fragrance—the study shows that gays and lesbians tend to be ahead of the curve when it comes to embracing new products and trends. They are early adopters that their peers look to for advice, opinions, and ideas. As a result of their influence, they impact many more purchases than just their own."
Nelson said that's an especially key factor for retailers and service providers during today's tough economic times.
"In today's challenging economy, now more than ever it's important that corporations are reaching out to every possible segment," said Nelson. "That means they should add LGBT to the mix when they're looking at customers, suppliers and employees."
