LGBTQ+ consumers shift their brand loyalty based on companies’ diversity, equity and inclusion policies, according to new research from the Human Rights Campaign Foundation.
Results released Wednesday found that nearly 72% of LGBTQ+ consumers say they buy fewer products from companies they perceive as “reduce commitments to diversity and inclusion.” Nearly 70% also said they have declined purchases from these companies at least some of the time.
The five companies that respondents most often associated with reducing expenses were Target, Walmart, AmazonChick-Fil-A and Home deposit.
On the other hand, HRC’s survey found that nearly 70% of LGBTQ+ consumers also reward companies they view as supportive of diversity and inclusion. Costco, AppleBen & Jerry’s, Delta Airlines And Kroger are the five companies most frequently cited as beneficiaries of higher spending.
“Consumers aren’t asking the brand to be perfect, they’re asking them to be transparent and clear about where they stand,” said Jonathan Lovitz, a spokesperson for the Human Rights Campaign.
“There’s a gap to be bridged between perception and what you’re doing inside,” he added.
HRC’s survey comes as a growing number of companies have scaled back their diversity initiatives, modified public-facing DEI programs or ended their participation in the organization’s annual Corporate Equality Index. Earlier this year, HRC reported a sharp decline in participation in the index, a benchmark that has long measured workplace policies and benefits for LGBTQ+ employees. Participation among Fortune 500 companies fell 65%, from 377 companies in 2025 to 131 in 2026.
The National LGBT Chamber of Commerce estimates that LGBTQ+ consumers represent more than $1.7 trillion to the U.S. economy.
In response to the survey, Amazon told CNBC that it promotes employee opportunities and serves a diverse customer base.
“We have continued to support our employees by providing opportunities that allow them to grow, thrive and connect internally and in their communities,” a company spokesperson said.
The other companies mentioned in the investigation had no immediate comment.
A customer walks past a display of Pride Month merchandise at a Target store on May 31, 2023 in San Francisco, California.
Justin Sullivan | Getty Images News | Getty Images
American buyers are increasingly mobilizing for or against companies based on their DEI policies. Target, for example, faced backlash from consumers on both sides of the political spectrum over its approach and was the company most cited by respondents who said they had cut spending.
Self-identified Republicans reduced their spending at Target during the summer of 2023 following controversy surrounding the retailer’s merchandise display during Pride Month, according to Consumer Edge spending data. In early 2025, spending by self-identified Democrats also declined after the company canceled several DEI initiatives.
However, during the company’s most recent quarter, the retailer reported its first positive same-store revenue in five quarters.
Target also continues to maintain some publicly visible LGBTQ+ partnerships, including as a platinum sponsor of the 2026 NYC Pride celebration.
Costco was the company most frequently cited by consumers who said they had increased their spending, according to the HRC survey. The retailer has remained one of the companies’ most vocal proponents of diversity initiatives, and earlier this year, shareholders voted overwhelmingly against a proposal that would have required the company to assess the risks associated with its diversity, equity and inclusion programs.
“The companies that enjoy the longest period of trust with their customers in the [LGBTQ+] community is that they didn’t change anything about what they were doing but remained consistent,” Lovitz said.
Data from Consumer Edge showed that Costco saw the strongest year-over-year spending growth among self-identified Democratic consumers in the months following that vote.