The LGBT (Lesbian, Gay, Bisexual Transgender) market is a niche market in which many foreign companies are beginning to embrace. Despite this, this vital market has been ignored in Japan for a long time. I read an article from GQ Japan which stated as of 2006, the LGBT market in Japan was already worth 6.6 trillion yen (1). This research had been conducted by a company called Pageanta, but did not cause a significant movement in the business world. It was mentioned that the reasons for this were the lack of market data and the restricted marketing channel in Japan.
It was not until recently that companies like Hakuhodo DY Group or DENTSU INC. had established an organization for LGBT market research in Japan. Some companies have also emerged with projects for LGBT consumers, such as Rakuten, Inc (Rakuten). Rakuten is working on promoting LGBT both in work culture and consumers. Within the company, office regulations state that the company stresses equality and respecting individuals. In addition, pamphlets and LGBT information desks have been established to promote understanding. For LGBT consumers, Rakuten offers information on LGBT friendly wedding sites at “Rakuten Wedding”, allows same-sex partners to create a “family card”, supports LGBTs and sexual minorities by using the color rainbow for “Rakuten Edy” and “Viper”, and offers plans for members of the LGBT community in “Rakuten Insurance” and “Rakuten Bank” (2). Rakuten is ahead on taking notice on LGBT communities; however, this is not the case for majority of the companies in Japan. The possible reason for this goes back to the first point made in this paper: lack of information and channels.
Hence, this project is aimed for Japanese executives or businessmen to have easier access to resources on LGBT marketing, so that Japanese businesses can be familiar with this concept and put it into practice. This project also includes basic knowledge on the LGBT community since it is crucial for executives to understand this topic of delicate matter.
Website: https://yakid95.wixsite.com/genderlgbt
Key words: LGBT, marketing, pink money, buying power, understanding
Resources:
(1) GQ JAPAN. LGBTを制するものが不況を制す！. LIFE. https://gqjapan.jp/life/business/20110324/lgbt%25E3%2582%2592%25E5%2588%25B6%25E3%2581%2599%25E3%2582%258B%25E3%2582%2582%25E3%2581%25AE%25E3%2581%258C%25E4%25B8%258D%25E6%25B3%2581%25E3%2582%2592%25E5%2588%25B6%25E3%2581%2599%25EF%25BC%2581
（2）Rakuten, Inc. LGBTへの取り組み. 企業情報. https://corp.rakuten.co.jp/about/diversity/lgbt.html