Caixin
Mar 13, 2015 05:43 PM

Chinese Businesses Eye Purchasing Power of LGBT Community

The informal Wedding of two gay men in Fujian province in 2012
The informal Wedding of two gay men in Fujian province in 2012

(Beijing) – Chinese businesses are starting to show interest in the purchasing power of the LGBT consumer market – often referred to as the "pink dollar"– a trend led by e-commerce giant Alibaba Group Holding Ltd.

The U.S. business magazine Forbes says the purchasing power of the lesbian, gay, bisexual and transgender (LGBT) community worldwide amounts to US$ 3 trillion annually. LGBT Capital, a venture capital firm in Hong Kong, says the figure for the mainland is US$ 300 billion. What's more, research shows LGBT consumers have above-average brand loyalty to companies they see as friendly.

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