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Hall Effect

How Much Does Gay Marriage Affect Retail Sales?

There are currently 5 states in the United States that allow same sex marriage. They are as follows; Massachusetts, Iowa, Connecticut, Vermont & New Hampshire. California had it for a short time, but it was taken away by a very controversial public referendum that was financed by wealthy Mormons in another state; Utah.

Nine countries recognize gay marriage. They include, Sweden, Canada, Holland, Norway, Belgium, Portugal, Spain, South Africa & Mexico. There is an asterisk by Mexico, since the marriage must take place in Mexico City. However, it will be recognized throughout the nation, as a matter of law.

This is one trend that has nowhere to go, but up. It raises the question, just how much is the economy and retail sales affected by gay marriage? Naturally you would assume it is already quite significant, but possibly just a drop in the bucket, compared to the future.

Nobody has to tell you that having a wedding is one way to spend a lot of money. It is not very smart, but many couples have gone as far as draining their bank account, to have a big wedding party. People do not think twice about spending 50 thousand dollars on the deal. Millionaires will often spend, in the hundreds of thousands of dollars.

With same sex couples getting married, there is no reason to think the expenditures are any less than opposite sex couples. In fact, there is reason to believe that gay couples, female or male, will have a tendency to spend even more, simply because this is a new era in history. They are still among the first to take this route and they want to do it right.

So who are the beneficiaries of this retail spending? First you have to think of jewelry stores. There must be many pairs of wedding rings for women, as well as pairs of mens wedding rings that are being purchased, in states and nations that allow gay marriages. And, as the nations and states continue to grow, you can expect to see increased sales for all the usual suspects.

That includes, wedding planners, videographers & photographers, DJs, bands, caterers, rehearsal halls, limo companies, and stores that have registers, so their guests can get them anything from fancy silverware to a king quilt. All these companies and more are reaping the benefits from the passage of gay marriage laws.

It can be assumed that more money will be spent on gay mens wedding bands than on gay women's wedding bands. The only reason this would be true is that wage disparity between men & women is still a reality.