Why does the US gay legalization wearable market welcome opportunities?

On June 26, nine judges of the US High Court recognized the legality of same-sex marriage in the United States with a 5:4 vote. This paper judgment made the United States a good friend of Canada and Mexico. Together, they turned North America into the only continent on the planet that recognizes the legality of same-sex marriage. As the 21st country in the world that recognizes the legality of same-sex marriage, the entry into force of the US bill has caused a lot of discussion around the world, and the focus of discussion is nothing more than two aspects: on the one hand, social ethics The other side of the debate is focused on business opportunities.

Legalization of homosexuality in the United States Why does the wearable market welcome opportunities?

LGBT small group brings big market

Today, instead of discussing social ethics issues, we will look at the business opportunities that this bill will bring from a business perspective. This may be more important and more direct for the current social reality of “universal entrepreneurship and innovation”. According to Li Yinhe’s article “Following Gay Rights”: “The homosexuals in the Netherlands account for 6% of the population, which is slightly higher than Jinxi’s survey of American society (4%), slightly lower than the UK survey (homosexual, Bisexuals each account for 4%, a total of 8%). And with a more conservative 5%, China's LGBT population is more than 70 million, which is more than the total population of a large European country.

Although this gay population is still a small group in the whole society, it has high commercial value in the consumer market. According to research by LGBT Capital, the world's top three LGBT markets are: 870 billion US dollars in Europe, 750 billion US dollars in the US, and 300 billion US dollars in China. In addition, according to CMI's survey data in the United States, merchants will receive a return of $180 for every $1 invested in the LGBT community; for every $158 spent by heterosexuals, the amount of homosexual spending will reach $878, a difference of 4 to 5. Times.

Then, from this set of data, we will capture a very important piece of information, that is, the average spending power of the gay community is much higher than the average heterosexuality. With the increasing social inclusiveness, the population of this group will show an upward trend, and the market space released by it will become larger.

Where are the business opportunities for LGBT?

The legalization of gay marriage in the United States further reflects the global trend of tolerance for homosexuality, but homosexuality is still difficult to fully sunshine in real life, and its various exclusive business services are relatively lagging behind heterosexuality.

In the past, more homosexuals were looking for “lovers” based on some offline places, such as bars and discos. Of course, “toilet culture” is also an indispensable way in the history of homosexuality, that is, leaving in the toilet. Related information to achieve the purpose of looking for "lovers."

With the advent of the Internet, especially the arrival of the mobile Internet, the "social" approach of this particular group has more extensions; and some social tools that rely on the Internet are often better able to obtain relevant information. Of course, compared to the past pure offline behavior, in the virtual world of the Internet, the privacy of users will be better protected, and the Internet will achieve better "like-mindedness" in the virtual world.

Just as the Internet has affected this era, it also affects homosexual groups. Therefore, in this era of the Internet, along with the legalization of homosexuality, some new business opportunities will be released, mainly by the following two aspects:

1. Regional O2O social mode

The Internet can be said to compensate for the social gap of homosexuality to a certain extent, and can better meet the strong social needs of comrades. Perhaps it is based on such a factor that there have been a lot of social applications in the domestic gay market, including G friends, Aloha, The One, The L, Zuo Zuo, GayPark, etc.; and even some more subdivided For lesbian social products, such as Pinkd, Laven, 呜啦, LesPark, etc., there are currently dozens of kinds, it can be said that will soon enter the stage of the bayonet.

According to Gengo, these gay social products will die in a large number in the near future. There are two reasons for this: First, the growth of gay people in China is far lower than the growth rate of these social products that provide services for comrades. Second, most of the gay social products are highly homogenized and have no features. So, are there opportunities for developers of such products, or for entrepreneurs who are preparing to enter the field of gay sociality? If so, where is the opportunity?

Gengo believes that the market opportunities for gay social products are still very large, and the regional O2O model will be a direction.

The so-called regional O2O model is similar to some current regional local website models. It only focuses on the local affairs, and only serves local customers, and then fully engages in online and offline activities and services. In other words, for a regional, localized, create a gay social model of online and offline interaction. Online, you can rely on bars, coffee shops and the like, and then rely on the offline platform to extend the social platform, with niche market as the entry point, perhaps a current way out and trend.

For example, to develop an APP product of the Nanjing gay tribe, the goal of the service is very clear. It is limited to homosexuals living in Nanjing, or some people who have just arrived in Nanjing and have not found a like-minded person in Nanjing. On the one hand, online dating, and other consumer services, such as helping to book hotels, gifts, etc.; on the other hand, open offline services in Nanjing, such as bars, hotels, coffee shops, sex toys stores. In a word, it is a convenient one-stop service for comrades.

Some people may ask, isn't the current large-scale gay social tools completely capable of doing this kind of thing? If it is in the mass market, I think it can be tried, but in this relatively niche market, relying on VCs to go to China to open up a localized O2O model, that money is not enough to burn, and Even after burning, I don’t know when I can recover from my comrades. What’s more important is that it is difficult to do local regional services in this niche market.

2. New opportunities for smart wearable products

Homosexuality, whether born or acquired, is hard to reverse. This also means that once they accept the service of a product, they may become lifelong users and have a very high viscosity. Moreover, most homosexuals do not have their own families. Even if they have families, they have no children, so their financial burden will be much smaller than that of ordinary people. In addition, these groups are easily discriminated against and marginalized. Therefore, they need to prove their own value with a better career and better income, and they have more desire for consumption. In addition, this group of people is more dependent on the Internet than the ordinary people. It is more powerful in trying and purchasing impulses for some cutting-edge technology products, and it is easier to become a huge market segmentation potential in the smart wear field.

For example, the erotic products designed specifically for the characteristics of comrades have more market characteristics than the current sports and fitness bracelets; for the emotional needs of comrades, some targeted intelligent hardware products are launched. Such as smart bracelets, pendants, etc., the emotional exchange between the main comrades; or for those people with special preferences, launch some smart toys to make up for part of their normal life, it is also a good Potential market. Of course, some intelligent decorative products for this group of people are also a good market. In addition, launching a dedicated gay shopping website for these people will be a good opportunity.

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