A new LGBT survey estimated China’s “pink market” value to be around US$470 billion per year. It is the first survey to explore the purchasing power, preferences and motivations of China’s LGBT community.
In August, Community Marketing & Insights, a US-based LGBT (lesbian, gay, bisexual and transsexual) research firm, will release more data in its First Annual China LGBT Community Consumer Lifestyle Survey during the First Annual China Pink Market Conference in Shanghai. Local and Fortune 500 leaders are expected to join the conference and discuss the niche market.
“This timely study provides businesses and the public with practical insights into the depth and breadth of the Chinese LGBT community, which CMI considers to be the most important emerging market in the world, ” David Paisley, the company’s senior research director tells Shanghai Daily.
The survey has been conducted in partnership with Shanghai LGBT Professionals, China’s largest gay app Dan Lan and local lesbian organization the L. The survey covered 8,000 LGBT people.
“There are more than 70 million LGBT people in China, equivalent to the UK’s population,” said Geng Le, CEO of Dan Lan, a gay social app with 8 million users.
“Gay and lesbian consumers are a force to be reckoned with, and we rely heavily on mobile and Internet usage, at rates twice that of the general market,” Geng said. “This is a market growth opportunity without national borders.”