Pride becomes a minefield for big companies, but many continue their support

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The buying power of the LGBTQ+ community is likely too big for companies to ignore. LGBT Capital, a U.K.-based investment company, estimates the U.S. has more than 17 million LGBTQ+ people with more than $1 trillion in spending power.

recently came under fire for their efforts to appeal to the LGBTQ+ community, only to come under more fire when they tried to backpedal.

“We stand by our values and we’re a highly inclusive organization. And we think the bulk of America is as well,” Gennette said. That’s an abrupt change from last year, when a majority of negative social media posts were focused on brands being “inauthentic” and not truly supporting the LGBTQ population even as theyIn May and June of 2022, there were fewer than 400 posts calling for Pride-related boycotts, RILA said. This year, in May alone there were more than 15,000.. At least 17 states have enacted laws restricting or banning gender-affirming care for minors, most since the start of this year.

Lopez, at San Diego Pride, worries that some companies will back out of Pride celebrations because of concerns that boycotters will target them. Some Pride organizations had already distanced themselves from Bud Light because they felt it wasn’t doing enough to support the LGBTQ+ community beyond the street parties in June.

 

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