That’s the title of FOTM’s latest in a series of posts on businesses or corporations pandering to homosexuals. See, for example:
- The 379 companies pushing homo marriage on the Supreme Court
- Conservative National Review magazine goes homo
- Coke Goes Homo
- Target goes homo
- Betty Crocker goes homo
- Burger King goes homo
- Allstate Insurance Goes Homo
Have you wondered why businesses do that, given the fact that LGBTs comprise at most 2% to 3% of the U.S. population?
Here’s the answer:
It’s all about the money. Homosexuals, especially the men, are known to be a demographic group that’s relatively well-off. See:
- CNN: “Gay people earn more, owe less”
- HuffPo: “Gay People More Financially Secure Despite Unique Barriers: Study”
- U.S. News & World Report: “Gay Couples More Educated, Higher-Income Than Heterosexual Couples“
In a stubbornly-recessional economy, by “going homo,” businesses are hoping to attract the homo dollar — the pot of gold promised by the LGBT rainbow — while confident that they’ll retain heterosexual consumers. Truth be told, how many heterosexuals have actually boycotted businesses that’ve gone homo?
Case in point, according to Schaeffer’s Investment Research, on the day that the Supreme Court ruled 5-4 to legalize same-sex marriage across America, the states’ constitutional rights be damned:
…a bit of a bump for XO Group Inc (NASDAQ: XOXO). The parent company for The Knot, The Bump, and The Nest advanced nearly 4% in the immediate wake of the announcement, with some firms estimating the ruling will translate into a “gay-marriage stimulus package.”
The shares have backed off a bit, but are still about 1.1% higher on the day, at $16.23. XOXO’s site director told MarketWatch, “As we celebrate the Supreme Court’s decision to legalize marriage equality for the entire country, our study shows that LGBTQ couples are hosting intimate weddings, with a focus on the guest experience and lots of personalized details.”
…Meanwhile, other stocks that saw post-SCOTUS jumps include jewelry retailers Blue Nile Inc (NASDAQ:NILE) and Signet Jewelers Ltd. (NYSE:SIG), as well as luxury goods titan Tiffany & Co. (NYSE:TIF).
XO Group Inc., formerly The Knot Inc., is a media company that publishes multi-media content for couples who are planning weddings, moving in together, or having their child. The company generates revenue through online advertising, merchandising, registry services, and publishing. The company headquarters are located in New York City, with offices in several locations in the US and in China.