The term “pink money” is used to refer to the purchasing power of the gay and lesbian community. In addition to being powerful economically, pink money can also potentially be powerful politically, with pink money donations influencing the outcome of political campaigns. Thanks to the active gay rights movement, many businesses and politicians are aware of the power of pink money, and some go out of their ways to cater to this coveted demographic, as some gay and lesbian couples have substantial disposable income.
Depending on where you live, you may hear a number of aliases used to describe pink money, including the pink dollar, pink pound, or Dorothy dollar. The “pink” references the pink triangle which has become an icon of the gay rights movement, thanks to the fact that it was used as a badge in Nazi concentration camps to identify homosexuals. When the gay rights community became more active, it decided to reclaim the symbol as an easily recognized emblem. The “Dorothy” in “Dorothy dollar” is a reference to the American euphemism “friend of Dorothy” which is sometimes used to identify members of the gay community.
The market power of pink money is constantly growing, in part thanks to the fact that the gay rights movement has made it much easier for many gay couples to be open about their sexuality. In some communities, there is an active effort to patronize gay-friendly businesses, with gay and lesbian couples choosing to avoid businesses which take an anti-gay stance. Many businesses have wised up to this fact, and a range of companies from automakers to pet stores actively court the gay and lesbian market.
Wealthy gay and lesbian couples without children may also travel a great deal, using their relative freedom and large dual incomes to engage in various travel adventures. Numerous airlines, destination resorts, and other travel-related businesses vie for pink money, in the hopes that it will provide a steady and reliable source of income.
In politics, pink money is a growing chunk of the pie when it comes to political contributions. Wealthy gay and lesbian couples are often politically active, and they flock to candidates who support equal rights for gays and lesbians. Members of the gay and lesbian community may also unite to throw support behind a single candidate in the hopes of defeating an anti-gay candidate, using their economic clout to influence the campaign.
Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a SmartCapitalMind researcher and writer. Mary has a liberal arts degree from Goddard College and spends her free time reading, cooking, and exploring the great outdoors.