There are 19 million men with more than $100,000 in household income online, and many of them are buying luxury goods for themselves, according to a new report.
Nearly half of this affluent male consumer group spends more than $4,000 a year online, more than a quarter of them are making purchases weekly, with 40 percent shopping at least twice a week, and 84 percent are shopping for themselves, according to digital performance company CNBC reports.
The growth rate of men shopping online has outpaced that of women and men are outspending female shoppers by 20-30 percent per transaction, GiltMan general manager Chris Ventry adds.
Most of the growth in men’s shopping is in the luxury clothing and accessories categories, iProspect found, also reporting that half of wealthy male shoppers research products on their smartphones, with tablet shopping on the rise.
A vast majority of affluent male shoppers (70%) like to research and purchase products online, as opposed to researching them online and buying in stores.
In terms of the specific sites where guys check out what to buy, they range from Amazon to ESPN.