Survey Shows Men are Out-shopping Women Online

Survey Shows Men are Out-shopping Women Online

It turned out that men are out-shopping women online based on recent surveys.

According to digital performance company iProspect, there are 19 million affluent men online, and the vast majority of them are shopping. Nearly half of these wealthy men spend more than $4,000 a year online.

The leading growth trend reveals to be the luxury menswear and accessories.  Seventy percent of affluent men prefer to buy online, with more than 25 percent of them making purchases weekly.

Chris Ventry, general manager of Gilt Groupe's GiltMan, tells CNBC guys are outspending the ladies by 20% to 30% and that the growth rate of men shopping online has significantly outpaced women.

Megan Grant, the senior vice president of Marketing for Kiehl's, tells CNBC its men's business online has doubled that of its physical stores.

These men expect a hassle-free experience in their online shopping. iProspect's survey reveals nearly half of all affluent men research products on their mobile devices.

The wealthy male, which the survey defines as a man with a household income of more than $100,000, is very connected, with nearly 50 percent of those surveyed researching products on smartphones. Tablet shopping is growing quickly as well.

Curious about the websites these guys are checking out? The No. 1 site that emerged was Amazon.com. Surprisingly, sports news website ESPN.com, which we expect men would glue their eyes on, was number ten.

And when it comes to favorite brands, affluent men listed Rolex first, followed by Louis Vuitton and BMW.

According to Kiehl's Grant, once men make a Kiehl's purchase, they are more likely to purchase again, with a 53% retention rate than ladies.

Posted by Melanie Mendoza on Thursday May 10 2012, 4:45 AM EST. Ref: Reuters. All trademarks acknowledged. Filed under Shopping. Comments and Trackbacks closed. Follow responses: RSS 2.0