The LGBTQ+ community’s combined buying power has been estimated at $3.7 trillion and growing. Here’s what your business needs to do to get in on some of that action.
We’re about halfway through June which means halfway through Pride Month 2021. Time for a check in: Is your business celebrating Pride, and if so, are you sure you’re doing it right?
Brands are putting rainbow-themed everything into the market this time of year to show support for the LGBTQ+ community, but that doesn’t mean it’s genuine. Like when the lady at TJ Maxx says I look amazing every time I pop out of the dressing room.
Anyway, it’s called “rainbow washing,” and it can take on many different forms:
- Opting only to talk about Pride during the month of June rather than joining the conversation year round.
- Conveniently picking and choosing which markets to show support in (this one felt especially cringey for Mercedes-Benz, Proctor and Gamble, Microsoft and YouTube).
- Selling Pride products without actually donating to any LGBTQ+ causes.
But why would companies do such a thing?
MONEY. DUH. IT’S ALWAYS MONEY.
But we at FBA Geek believe you can make money and not fake-support the causes you believe in too.
Here are some tips and tricks for how to celebrate Pride successfully.
- No taxation without representation. Ignoring the tax part, make sure someone from the LGBTQ+ community is at your decision making table. Try partnering with an agency or consultant recognized by the National LGBT Chamber of Commerce.
- Donate or get out. Look for organizations your company can support either through its giving strategy or via a portion of a particular product’s sales.
- Like a friendship circle, Pride has no beginning and no end. Even though June is almost over, your business’s Pride plan can be year round. Consider building marketing campaigns that include and normalize the LGBTQ+ consumer’s experience.