LGBTQ+ Marketing: The Pink Pound Debate.
Music by: Cabaret Nocturne – Blind Trust. Image credit: Burberry.
It’s CULTED with you 60-second FASHION BLAST.
It’s Pride Month which means we’re seeing brands roll out LGBTQ+ themed products, but is it just me or do there seem to be less rainbows than normal?
An anonymous PR agency told CULTED that many brands have cut the release of pride-themed products due to a lack of media coverage as a result of cancelled pride events and the ongoing news crises of COVID and BLM.
So this raises the question: are brands really launching pride products to support the community, or is it just a marketing stunt?
The pink pound refers to the purchasing power of the LGBTQ+ community and in the UK alone it’s worth an estimated $6bn a year! But should brands really be profiting from pride products, or should revenue go to LGBTQ+ charities?
Whilst some brands, like Puma and Fossil, will be donating a portion of profits from their pride items, many companies have gone all out…
Levi’s is donating 100% of its proceeds from its Pride 2020 collection to LGBTQ+ human rights organisation, OutRight Action International. Morphe, NYX and ASOS will also be donating 100% of their pride profits to support the community.
So guys, should brands be targeting the pink pound to sell their products?
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See also: PHARRELL TALKS GENDER & MASCULINITY
See also: GENDERLESS FASHION