The propensity of men to spontaneously purchase expensive clothing items is making them a favourite target market for online fashion retailers.
According to the Wall Street Journal Online, new research paints a picture of male spending habits that makes retailers’ mouths water in anticipation; they spend more, make snap decisions and return less stuff.
On the spending front, a survey of 1300 luxury shoppers by US firm Unity Marketing found that men spend an average $2401 on fashion items over three months, almost $1000 more than women. Another survey by BIGresearch found that 90% of men regularly make purchases online, compared to 86% of women.
Men also return fewer items as unsuitable – a Forrester Research study found that while women return 20% of the clothes they purchase, men are half as likely to do so.
And, it seems, men’s reluctance to spend time trying on clothes in the brick and mortar world translates into a propensity for snap purchasing when online. Research conducted by Yoox, an Italian online clothing retailer, found men take a third of the time that women do to make a purchase.
COMMENTS
SmartCompany is committed to hosting lively discussions. Help us keep the conversation useful, interesting and welcoming. We aim to publish comments quickly in the interest of promoting robust conversation, but we’re a small team and we deploy filters to protect against legal risk. Occasionally your comment may be held up while it is being reviewed, but we’re working as fast as we can to keep the conversation rolling.
The SmartCompany comment section is members-only content. Please subscribe to leave a comment.
The SmartCompany comment section is members-only content. Please login to leave a comment.