What is Pink Money?

Pink money is called the purchasing power of people belonging to the LGTBIQ + collective (lesbians, gays, bisexuals, transsexuals, intersex, queer and others). The pink money, therefore, is the ability that people within this group have to spend. It is an increasingly accepted group that, according to the companies, it can be a market niche very interesting in which to invest.

Therefore, there are some who decide to establish a product line or services specifically for this audience, or even carry out campaigns aimed at this group when the dates of the LGTBIQ + Pride approach.

However, it should be noted that although some companies do it on their own initiative and for business philosophy, others do it to create afalse corporate social responsibility or try to profit at your expense. These practices, in addition to being unethical, are homophobic and reprehensible.

What are the advantages and disadvantages of pink money?

Despite being a controversial term, pink money can represent certain advantages for companies:

  • It presents a good responsibility, when carrying out marketing campaigns that integrate diverse and free people from the collective.
  • New special market niches for the group, offering specific services and products. For example: hotels, cruises, parties, etc.
  • It allows companies to defend and value the rights of the community.

On the other hand, there are also disadvantages:

  • The LGTBIQ + movement is commercialized. Campaigns are used massively to increase the number of sales, not giving the importance that the group or its principles deserve.
  • Devirtualization of events such as the LGTBIQ + pride march or Pride month (June), which becomes more of an act to promote oneself than to fight for rights.
  • The number of unemployed trans people is greater, reducing their purchasing power and, therefore, damaging the concept ofpink money. Greater equality would allow this to improve, although conditions most of the time do not allow it.

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