WorkForLGBT alongside more than 20 LGBT organizations across China held its “3rd Annual China Pink Market Conference.” The conference focused on consumer behavior with the goal of serving China’s LGBT community moving forward. The conference saw a survey released “providing an authoritative guide for companies wishing to explore the LGBT Pink Market in China.”
Within the report, a few key pieces of information were revealed that many corporations may be interested to know. According to the report, there are an estimated 70 to 140 million LGBT individuals living in China, with the “Pink Market” being an estimated 2 trillion RMB (about $290 billion). 54% of men and 65% of women see same sex marriage as their ideal relationship, with 58% of men and 75% of women would be willing to pay 40,000 to 60,000 RMB (about $5,800 to $8,600) for a wedding abroad. Lastly, 56% of men and 62% of women site that the “most important factor influencing LGBT people’s purchasing decisions…is [the] company[’s] support for LGBT friendly policies and regulations.”
As the acceptance of the LGBT lifestyle grows around the globe, we can expect these numbers to continue to rise.