Large Majority of Americans Support Companies Selling LGBTQ+ Merch, New Study Finds

Despite so-called ‘woke’ companies losing billions in market value for selling LGBTQ+ merchandising, a new GLAAD study shows that most people think companies should support the LGBTQ+ community in their corporate practices. 

The annual “Accelerating Acceptance” study published Thursday by the advocacy organization reported that 70% of non-LGBTQ+ people want companies to include the LGBTQ community in hiring, advertising and sponsorships.

The GLAAD report, which started in 2015, surveyed over 2,500 people to gauge Americans’ acceptance of the LGBTQ+ community. 

Sixty percent of respondents said that seeing LGBTQ people in advertising makes them more comfortable with people who are different than themselves. Seventy-five percent of those surveyed said they were comfortable seeing LGBTQ+ people in ads, and 73% said they were okay with ads featuring an LGBTQ family with children.

While the sample showed overwhelming support for LGBTQ+ people, companies that sold queer merchandizing for Pride month saw their stock values tank this year. 

Target is on its longest downward trend in 23 years, according to press reports, falling 12.2% so far in 2023. Disney lost $96 billion in market capitalization since the company’s feud with Florida Gov. Ron DeSantis over his "Don’t Say Gay” law. Shares of Kohl’s were down 25% year to date on Tuesday. 

Though public opinion largely supports LGBTQ+ inclusion in corporate advertising, GLAAD’s survey showed that there are still widespread misconceptions about transgender and nonbinary people. Half of respondents said trans and nonbinary people are new and unfamiliar to them.

 This finding rang true as Anheuser-Busch’s market value plunged when customers boycotted its online promotion featuring Dylan Mulvaney, a transgender influencer. The company lost about $24 billion in value since the beginning of April.