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Hot Market: Affluent Men Love to Shop Online

August 31st, 2012 ::

By Rieva Lesonsky

Conventional wisdom has long held that men don’t enjoy shopping. Well, the Internet has changed all that. A new study by iProspect polled affluent men (those 18 and up with household incomes over $100K) and found they’re embracing online shopping. Here’s what you need to know.

The 19 million affluent males who are online are shopping and spending at rates higher than ever before. In fact, these men overwhelmingly (70 percent) prefer to research and buy online, rather than researching online and purchasing in-store. Although most of these purchases are still made on PCs, mobile devices are coming up fast.

  • The vast majority (91 percent) use a PC at least once daily; 77 percent have a smartphone and 50 percent own a tablet.
  • Nearly all of the survey respondents report using their PCs and mobile smartphones at least daily; 85 percent use their tablets daily. (Interestingly, those who use tablets daily are 32 percent more likely to make a purchase via device.)
  • Nearly all of those surveyed shop online; 27 percent of the group make purchases weekly basis.
  • Thirteen percent spends more than $30K online each year, and nearly half spend more than $4K a year online.
  • The majority of men in the study (69 percent) had incomes of $100K to $300K. Three-fourths were age 35 and up.
  • In addition, more than half were childless, giving them even more disposable income.

“The old adage that men hate to shop is being upended by the digital experience. Not only are affluent men shopping online more, but this demographic is doing extensive research, shopping and then purchasing online, which provides advertisers with multiple touch points to reach him,” said Robert Murray, global CEO of iProspect, in announcing the study.

iProspect sums up the online shopping experience for affluent men as “a complex collection of integrated touch points made on multiple devices and via multiple channels” that requires providing “an integrated brand experience across all devices.”

To reach affluent men online, iProspect suggests these strategies:

  1. Optimize your website for mobile devices.
  2. Investigate advertising on mobile properties. Affluent men were highly aware of mobile ads.
  3. Investigate advertising on email portals like Gmail; checking email is the number-one activity for affluent men.
  4. Develop an app, but only if it makes sense for your business.

Image by Flickr user HarshLight (Creative Commons)

 

 

 

 

The views expressed here are the author's alone and not those of Network Solutions or its partners.

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