Pink money is the purchasing power of the LGBTIQ + community (lesbians, gays, bisexuals, trans, intersex, queer and others).
That is, when we talk about pink money we refer to the purchasing power of people who are within what is called sexual diversity. This includes both sexual orientation and gender identity.
The greater social acceptance of the LGBT movement has made pink money a very interesting market niche for companies. That is why various products and services oriented to this public have emerged.
Pink money must be distinguished from pink capitalism. This concept refers to the incorporation of the LGBT movement into capitalist dynamics , and is a term used critically because it implies the commodification of that community and its discourse.
Advantages of pink money
Among the advantages of pink money include:
- Companies include the LGBTIQ + community in their marketing strategy. In this way, the subject is given visibility, for example, by incorporating same-sex couples into its advertising.
- The increase in the purchasing power of LGBT people has allowed new market niches to be created with specialized products or services for them. These can be, for example, tour packages that offer a safe environment, to avoid discrimination problems towards the traveler (s).
- Pink money means that more and more companies support the political and social demands of the LGBT community.
Disadvantages of pink money
On the other side of the spectrum, there are also disadvantages of pink money:
- The main criticism of pink money is that it commercializes the LGBT movement. Thus, companies can take advantage, for example, of celebrations for the month of pride, to advertise the product or service they offer.
- As a consequence of the above, certain events are distorted, such as the march of LGBT pride, making it more of a commercial success. However, the reason for that parade is the claim for rights.
- Up to a point, pink money is concentrated only in a part of the LGBT community that is inserted into society. However, it should be noted that there are very marginalized groups, such as trans people, where the unemployment rate is very high. Consequently, they do not generally have a high purchasing power.