The Purple Pound refers to the spending power of disabled households, which is defined as a household with at least one disabled member. More than 1 in 5 potential UK consumers have a disability and these households have an estimated annual spending power of £274 billion in the UK. Knowing these statistics, can your business afford to be inaccessible?
The Purple Pound Market
The Purple Pound Market is growing fast, with the number of disabled people in the UK rising by 18.5% in the last 7 years to 14.1 million. With many businesses still not stepping up their accessibility and inclusion, this is still a fairly untapped market with lots of potential. Disabled consumers also have a reputation for being especially loyal when a buying process is accessible for them.
The online marketplace in particular is heavily relied on by many disabled users that are housebound or find it difficult to get out to a physical shop. However, 73% of these potential customers experienced barriers on more than a quarter of websites they visited. The Web Accessibility Initiative (WAI) provide guidelines and top tips on where to start with making your website more accessible.
The Cost of Inaccessibility
75% of consumers from a disabled household say they have walked away from a business due to poor accessibility and customer service. The graph below shows how much revenue each business sector loses per month due to not being accessible:
Appealing to the Purple Pound Market
- Assess whether your points of sale/service are physically accessible and make changes where needed.
- Follow the Web Accessibility Initiative (WAI) guidelines to ensure your website is accessible for all users.
- Be sure to use the correct inclusive language in all of your online and offline communications.
- Be an inclusive employer and celebrate diversity within your team.
- Be loud and proud in your support of the disabled community and look for opportunities to get involved.
Exhibiting at Disability Expo
Gain consumer confidence in your products/services by exhibiting at Disability expo, our person focused event at ExCeL London in July 2023. Find out more.