Best Buy and Target Risk Losing $759 ...

Best Buy and Target Risk Losing $759 Billion in LGBT Consumer Spending From Gay Rights Boycotts

There are 19 comments on the retailindustry.about.com story from Aug 24, 2010, titled Best Buy and Target Risk Losing $759 Billion in LGBT Consumer Spending From Gay Rights Boycotts. In it, retailindustry.about.com reports that:

Best Buy and Target Risk Losing $759 Billion in LGBT Consumer Spending From Gay Rights Boycotts Tuesday August 24, 2010 Here's why the U.S. retail industry in general and Target and Best Buy in particular can't afford to ignore the ongoing boycotts that are being led by the LGBT community in protest of corporate campaign contributions to an anti-gay rights political candidate....

Editor's note: The headline of this article would be more accurate to read "Risk Losing SHARE OF $759 Billion...", but I have left it in its original form.

Join the discussion below, or Read more at retailindustry.about.com.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#1 Aug 24, 2010
Hope it was worth the $150k they gave in donations. From a purely financial aspect, it seems like a really bad investment to me.
Frank Stanton

New York, NY

#2 Aug 24, 2010
How on earth did they come up with a figure of $759B ?!
DoubleCrossed

Alpharetta, GA

#3 Aug 24, 2010
It was "Minnesota Forward" that double-crossed Target and Best Buy by collecting the contributions under false pretenses
.
"Minnesota Forward" posed as a neutral collection agency benefiting corporate interests; then gave the money to their Nazi candidate for Governor
.
The straight AND the gay communities are calling foul

Since: Nov 08

Roanoke, VA

#4 Aug 24, 2010
Yay! Hope the number goes even higher!
Madd1

Gettysburg, PA

#5 Aug 24, 2010
Wow 759 billion ! Then I guess they did the right thing because the straight community is 90 % of the population which means our buying is far, far higher than 759 billion !

“I'm not gay, I'm celisexual!”

Since: Jul 10

Location hidden

#6 Aug 24, 2010
Madd1 wrote:
Wow 759 billion ! Then I guess they did the right thing because the straight community is 90 % of the population which means our buying is far, far higher than 759 billion !
You're assuming all of that 90% agrees with you.
Not duped

Grove City, PA

#7 Aug 24, 2010
What utter nonsense. Again, gays give themselves WAAAAY more prominence and presence in the lives of most Americans than you could possibly have. I was in both stores recently, and both stores had plenty of customers. Had to wait in line some time in Target to check out. I'm sure you will find there are lots of people like me - tired of the whining, complaining, and bullying going by gays. We are all too willing to go that extra mile to shop at a store that is the target of all that bullying, as I did and will continue to do. You might even consider that the boycott efforts are free advertising for Target, Best Buy, and any other victims of the pressure and bullying. They gotten quite a few of my dollars recently due to the boycott because I normally do not shop at either store.
Madd1

Gettysburg, PA

#8 Aug 24, 2010
The Virgin Queen1 wrote:
<quoted text>
You're assuming all of that 90% agrees with you.
No, I am not assuming that all 90 % agrees with me.

“Peace”

Since: Feb 08

Earth

#9 Aug 24, 2010
If 10% of the people stop shopping at Target and Best Buy, total gross sales will drop 10% but gross expenditures will remain the same. Hence the total profit margin will drop 10%

Now that is just the 10% LGBT community, not counting supportive family members and friends.

2010 Target
Key numbers for fiscal year ending January, 2010:
Sales:$65,357.0M
One year growth: 0.6%
Net income:$2,488.0M
Income growth: 12.4%
http://www.answers.com/topic/target-corporati...
Rainbow Kid

Alpharetta, GA

#10 Aug 24, 2010
Frank Stanton wrote:
How on earth did they come up with a figure of $759B ?!
759B is the 2009 figure. Apparently we're getting richer and richer
.
The 2008 figure is only 712 BILLION
http://www.examiner.com/gay-travel-in-san-fra...
Frank Stanton

New York, NY

#11 Aug 24, 2010
Rainbow Kid wrote:
<quoted text>
759B is the 2009 figure. Apparently we're getting richer and richer
.
The 2008 figure is only 712 BILLION
http://www.examiner.com/gay-travel-in-san-fra...
First of all, the figure is ridiculously high. Secondly, the artilce states that is the TOTAL for gay and lesbian people. Target doesn't gross $700B.
Rainbow Kid

Alpharetta, GA

#12 Aug 24, 2010
Frank Stanton wrote:
<quoted text>
First of all, the figure is ridiculously high. Secondly, the artilce states that is the TOTAL for gay and lesbian people. Target doesn't gross $700B.
Yeppers; we could have bought TARGET and had 12 BILLION left over last year
.
This year we have an additional 759 BILLION mad money after the bills are paid
.
We used to give all that money to them dang churches but the dumb@$ses kicked us out

“ reality, what a concept”

Since: Nov 07

this one

#13 Aug 24, 2010
Frank Stanton wrote:
First of all, the figure is ridiculously high. Secondly, the artilce states that is the TOTAL for gay and lesbian people. Target doesn't gross $700B.
The $759 billion is the estimated total of LGBT consumer spending on an annual basis. As noted in my Editor's note at the bottom of my introduction to this story above, the headline is inaccurate and would have better read as "Risk Losing SHARE OF $759 Billion....".

“Sotomayor TheNewFace of Racism”

Since: Apr 09

Clayton, NC

#14 Aug 24, 2010
I am a gay man and I still like Target and I am not joining in on HRC's shake down of Target...

Target as been a really good friend to the gay community for some time now; unfortunately on this candidate the Targets interest and the interest did not intersect. Any fair minded rational adult would understand why Target donated and it was not because they are an anti-gay company. Target's history shows us that they are not anti-gay. All the people that are supporting target are alienating a really good friend to the community because their economic interest did not intersect with our interest.

Get a grip already.
James

Rockaway Park, NY

#15 Aug 24, 2010
censoredagain wrote:
I am a gay man and I still like Target and I am not joining in on HRC's shake down of Target...
Target as been a really good friend to the gay community for some time now; unfortunately on this candidate the Targets interest and the interest did not intersect. Any fair minded rational adult would understand why Target donated and it was not because they are an anti-gay company. Target's history shows us that they are not anti-gay. All the people that are supporting target are alienating a really good friend to the community because their economic interest did not intersect with our interest.
Get a grip already.
lol

Ok. The initial donation pissed a lot of people off, yes. However, the actual boycott was started because of how Target HANDLED all the pissed off people. Apparently you like getting metaphorically spit in the eye.

“Sotomayor TheNewFace of Racism”

Since: Apr 09

Holly Springs, NC

#16 Aug 25, 2010
James wrote:
<quoted text>
lol
Ok. The initial donation pissed a lot of people off, yes. However, the actual boycott was started because of how Target HANDLED all the pissed off people. Apparently you like getting metaphorically spit in the eye.
No! I don't like getting metaphorically spat on; but, I do understand Target's actions. It seems like everyone else just jumped on Target as betraying the gay community by supporting a fiscally conservative theocrat. That is what pissed most people off. They were already portraying Target's actions as anti-gay when it was not that at all. Neither was their action at balking at HRC's shack down anti-gay.

Fair minded people would be supporting Target for standing up to HRC's shack down and should be jeering HRC for tring to shack down target. No matter what you say HRC was shacking down Target when Targets interests were congruent with the gay community's interest.
annonymous

Logan, UT

#17 Sep 20, 2010
I have worked for Target and I currently work for Best Buy. I am gay and have found both companies to value the LGBT communities. Both have business networks that focus on the issue. At Best Buy I get domestic benefits for my partner.

I am tired of the LGBT community crying injustice at every turn, especially when these companies have been so good to the LGBT community and employees. Know the facts, support the truth.
Dear James

Grand Rapids, MI

#18 Nov 11, 2010
How did they handle all the pissed off people since you are a wealth of knowledge?

“Indeed, I am!”

Since: Feb 09

As if it mattered . . .

#19 Nov 11, 2010
Bottom line: Corporations are amoral and apolitical. They gave to a Republican group in the belief that the Republicans would pass laws and regulations that are more conducive to their primary goal, making money. If the Democratic party had the reputation of coddling corporations more than the Republicans, they would have given the funds to them. It's not that they are evil, it's that they have no morals at all.

The corporate culture rewards increasing short term profits. Enlightened self interest is almost nonexistent within this milieu. It's this feature of corporate culture that makes the Citizens United decision so bad for our country and which spells doom for the working and middle classes in the US.

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