Friday, 17 August 2012

Online Shopping Trends: Men vs Women

I've got tonnes of great info today about shopping trends and just what it is that men and women buy as well as some demographics for your amusement. If you've thinking about going into business - whether you're building an affiliate website or you want to sell clothing through Facebook - take a good look at these stat's and read between the lines.

So I'm going to throw lots of figures at you. Pay attention. 

WHO SPENDS THE MOST MONEY ONLINE - MEN OR WOMEN?

Not only do women spend more money than men.... they also spend a lot more time doing it. On average, women spend 20% more time than men 

As an e-tailer, it's important to not only know who your target audience is, but what motivates and affects their purchase decisions. For example, if you're targeting women, then you should be aware that they take coupons much more seriously than men. They're also more likely to shop when there are sales  (49% women vs. 36% men) and sign up for incentives (33% women vs. 23% men).


Remember that old joke... The difference between men and women - men will spend $2 on a $1 item that they need. Women will spend $1 on a $2 item that they don't need...but it was on sale.  

RETAIL (AND E-TAIL) TIME



So you can see that some categories are are dominated by males but for the most part, woman are still task with buying for their families.  As an e-commerce retailer, knowing your audience is essential... which is why you should also know that men and women approach online shopping very differently.

Men tend to stay on task - whatever mission they have assigned themselves when shopping online, they stay on task and get it done without too much distraction. Men also read the product page more thoroughly than women (who scan the page then move on to the next potential product) which means they're slightly less susceptible to impulse buys. 

Women on the other hand,  tend to wander among different products, different categories and consult with the girlfriends on Facebook before buying. Yep, women are more attached to social networking in regards to their online shopping...this means they're more likely to ask their friends for advice before making a purchase and more likely to recommend a product or website they've bought from. 



WHAT CAN I DO WITH THIS INFORMATION??
Read between the lines. If you're targeting men in one of those male dominated categories - sporting, outdoors, computers - then make sure your product descriptions are detailed and accurate. Provide customer reviews or testimonials that proves your site is better than the competition. 

Or...if you're targeting women in one of those girly categories, pay special attention to creating promotions and sales. Make your site user friendly and easy to navigate (coz we navigate a lot!). Consider introducing a means by which female shoppers can interact with one another - make it Facebook friendly, encourage reviews/comments, create a forum.

Any questions??

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