What is the Purple Pound?

By October 15, 2021 October 21st, 2021 No Comments
what is the purple pound

The purple pound refers to the spending power of disabled households in the UK and Globally. A disabled household is a household in which at least one of the members has a disability. Organisations in UK; England, Scotland, Northern Ireland, and Wales; as well as globally are missing out on the business and service to disabled consumers, due to poor accessibility (both physical and digital) and not being disability confident in the customer services approach. Invariably under 5% of all recruitment in corporations and companies is disabled talent, when 14.1 million are disabled in UK out of a population of 67.1 million, that is 21%+ of the population, and globally we should remember 1.85 billion people are disabled representing 23%+ of our one world and 1 blood colour.

Kaleidoscope promotes talent and entrepreneur spend and recruitment knowing that disability, accessibility, and abilities drive sales, service, spend and profitable growth, in the UK and Globally. There is a £274 billion pounds a year spending power by people with disability & families and $13 trillion annual spending globally by disabled, rising by 14% per annum.

Key Facts to Consider Regarding the Purple Pound;

  • Embracing disability brings added value in business, in life and through services.
  • More than one in five potential UK consumers have a disability.
  • Businesses globally lose around £2 billion a month by ignoring the needs of disabled people.
  • £274 billion annual spend of people with disability & their families in UK.
  • $13 trillion annual spend of people with disability globally & their families.
  • 73% of potential disabled customers experience barriers, on more than a quarter of websites they visit.
  • Online spending power of disabled customers is nearly £20 billion.
  • The number of disabled people has increased from 11.9 million in 2014 to 14.1 million in 2021. An increase of 18.5% in 7 years.
  • 75% of disabled people and their families have walked away from a UK business because of poor accessibility or customer service.
  • Nationally under 5% of corporate recruitment engages disabled talent when over 21% of the population has a disability.
  • Nearly one in five working adults have a disability. estimated that businesses lose money through poor accessibility as follows:

  • High Street Shops lost £267 million
  • Restaurants, Pubs and Clubs lost £163 million
  • Supermarkets lost £500 million
  • Energy companies lost £44 million
  • Phone & Internet providers lost £49 million
  • Transport providers lost £42 million
  • Banks & Building Societies lost £935 million

Kaleidoscope Group and The Kaleidoscope Foundation is a disability inclusive organisation – empowering talent and ambition for ability with disability. We embrace and promote change to enhance life for a significant percentage of the National and Global Population.

The benefits presented through disability in government, life and business added value affects consumers, employees, and across all the communities. Finally, we see many practical next steps and considerations for the future with and through disability inclusion.

We look forward to building a more inclusive and accessible future with you, embracing ability, empowering ambition and talent.

At Kaleidoscope Group we have teams of able people who can assist in the developmentinvestmentmentoring and advising of talent, which are all key sectors which contribute to society and the power of the “Purple Pound”.

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