Looks like all the stereotypical jokes about women spending too much money are a thing of the past. Men are out-spending women in online shopping at least.
The click of the mouse is a quick way to spend dough. CNBC reports that “the growth rate of men shopping online has outpaced women, and guys are outspending the ladies by 20 percent to 30 percent per transaction.”
According to an iProspect study, the average mass affluent man spends more than $4,000 online each year. “Mass affluent” is defined as a man who has a household income of more than $100,000.
Guys overwhelmingly are buying for themselves when they buy online. That accounts for close to 90% of their purchases. (Sorry ladies!)
What brands are affluent guys drawn to the most? Rolex, Louis Vitton and BMW. And the No. 1 site that these men are shopping at? Amazon.com.
This new trend of men shopping online poses a challenge for marketers. Marketing has always been geared to women. But while the online world is focused on men purchasing, much of the promotion and advertising remains geared toward women.