(New York City) In the economic downturn that has seen a drop in home sales, gay and lesbian homeowners are increasingly turning to home improvement projects rather than moving.

These study was undertaken by the Chicago-based, online research agency, Socratic Technologies and Target 10, a gay and lesbian marketing agency based in New York.

“Gay couples planning home improvement projects lead the way when it comes to spending,” the study’s authors said in a statement.

LGBT homeowners intend to spend an average of $2,077 within the next 12 months while non-gay couples intend to spend only $1,384, according to the findings.

“With 63 percent of gay homeowners intending to start home improvement projects within the next 12 months, it’s not surprising that more than half also plan on purchasing more new home appliances or furnishings within a year’s time.”

The kitchen in particular is high on the “to do” list.  In the next 12 months, 34 percent of gay homeowners reported that they intend to replace a kitchen appliance vs. 27 percent of straight homeowners.

“Gay men and lesbians have a reputation of being major home improvement shoppers and this survey reaffirms that,” said Matt Tumminello, president of Target 10.  “Renovating and refurbishing homes is in many ways a part of gay culture.  Even in bad economic times, they are not stopping.” Over the last three years, 72 percent of gay homeowners had made home improvements.

The survey also uncovered some interesting findings on how consumers shop.

“We found that gay consumers are shopping in more places than straight consumers to find the items that they want.  This includes both at retail stores and online,” said Jeff Kerr, vice president of Socratic Technology.

Gay consumers reported higher rates of shopping and purchasing at Home Depot, Lowe’s, Sears, Best Buy and the warehouse shopping club, Costco.

“They are savvy shoppers who are determined to find exactly what they want and at the best price,” Kerr said.

The survey also found that gay consumers are looking for high-end products.

Homeowners were significantly more likely to seek out products from top-tier brands such as Viking, Sub Zero, Jenn-Air and Miele.  And while non-gay homeowners showed a willingness to use less expensive materials during the economic downturn, this is something most gay consumers are not willing to do.

But the survey discovered that most companies have been slow to go after gay consumers.

“In the last few years we’ve noticed very few household appliance and home improvement brands taking steps to court gay consumers and no one brand has emerged as a market leader,” said Tumminello.

“Gays and lesbians are famous for their brand loyalty and an opportunity exists to fill that void.  Those first in, win.”

This national online survey was conducted March 17-30 among members of the Socratic Forum and the Socratic/Regent Media Gay Consumer Panels.  Interviews were completed by 301 gay and 310 straight homeowners.

©365Gay.com 2009