Pink Money: The Power of “Pink Money”

Fight for a cause but do something – in fact – for it. Engagement without action becomes “washing”

The new times dictate that the corporate market gets involved with social causes and gives back to society part (or a good part) of what at some point it may have taken from it or impacted in a not-so-legal way. That’s when being diverse, plural, inclusive becomes part of the business and defines companies, corporations and the like.

It’s ok to be inclusive and dedicate yourself to a cause to call your own, as long as it’s yours in fact – from the door out and the door in. An important point to be discussed here, since it is Pride month and it is not unusual to come across companies engaged in LGBTI+ causes or advertisements praising this community. So far so good, if not purely and simply to just profit from it.

This is where “pink money” comes in, or pink money, a term that you may have read or heard around. Pink money is purchasing power in the hands of the LGBTQIAP+ community. The consumption power that these people have. A survey by the Out Now Leadership International Association says that this public represents 7% of the Brazilian GDP.

Companies know this and are attentive offering products and services to them. Nothing wrong with that. The crucial issue here is to do something for the cause and not just want the pink money floating around.

Having LGBTQIAP+ representation and inclusion in the corporate environment, creating opportunities for people from this community, accelerating careers, having job vacancies focused on this public, creating reception channels, helping associations and entities dedicated to the cause… are some of the actions that can and should be taken so that there is a change and a real engagement. If not, everything else, as I said, is pure “pinkwashing”.

Source: CNN Brasil

You may also like