The conventional wisdom is that women drive shopping trends because they control up to 80% of household spending. However, men drive nearly as much e-commerce spending in the U.S. as women, a new report from BI Intelligence finds.
- In 2010, comScore estimated that men account for $US4 out of every $US10 spent online. In 2012, a Greenfield survey found that men account for 42% of online spending in the U.S.
- Men are actually more likely to make purchases on mobile devices than women.
- Twenty-two per cent of men made a purchase on their smartphones last year, compared to just 18% of women.
- And 20% of men bought something on a tablet, while the percentage for women was 17%.
- More importantly, many men say they would like to shift all their spending online.
- 40% of American men aged 18 to 34 said they would “ideally buy everything online,” compared to only 33% of women.
These findings suggest that men represent a huge opportunity for online retailers and e-commerce companies. Bricks-and-mortar stores that sell merchandise primarily for men are at particularly high risk of losing customers to online shopping alternatives.
In a new report, BI Intelligence breaks down the demographics of U.S. online and mobile shoppers by gender, age, income, and education and takes a look at what they’re shopping for, and how their behaviours differ.
In full, the report:
- Explains why men are so much more important for e-commerce retail over in-store sales, and why they are more likely to buy on smartphones than women.
- Indexes e-commerce spending by age group against the amount of time a given demographic spends online.
- Breaks down online spending habits of teens, including the brands and products they shop for.
- Examines the factors behind what drives online purchases among millennials.
- Identifies Gen X, boomers, and older consumers’ online spending tendencies.
- Looks at how education and income influence e-commerce spending.