Guess who spends more on online shopping? No, it’s not women
In a recent research on consumer spending trend, it was found that male buyers spent higher amount of money on their last online purchase than female buyers
Small city buyers are ahead of that of big cities in terms of spending on their last online order. According to the latest report, consumers from Tier 2 and Tier 4 cities spent up to 77 per cent more than those from Tier 1 cities on their last online order.
According to the latest report from IIM Ahmedabad, titled, ‘Digital Retail Platforms and Consumer Emotions: An Indian Perspective,’ one-third of the consumers reported visiting digital retail platforms every two to three days. The report threw light on several other trends of online shopping among Indians.
According to the report, online shopping has become a favourite past-time activity for people and most consumers invest an average of 34 to 35 minutes in their last online shopping. The COVID pandemic has also led to a massive surge in online shopping. The report states that around 72% of consumers started shopping online in the last one to three years.
Male consumers spend more than their female counterpart
The report also highlighted that male consumers spent 36% more money than female consumers in their last online shopping transaction.
Female buyers were more inclined to clothing and fashion products whereas men shopped more for electronic products. Females found online shopping more convenient than male consumers. Talking about the factors that affect the buying behaviour of both genders, the research said that females are keener on delivery time and return policies, whereas male consumers looking for better quality, equated monthly instalments (EMI) options, and online recommendations.
The age-wise trend of the data shows that consumers under the age of 24 and those over 60 years find online shopping highly convenient. Moreover, consumers under 35 years of age visited multiple websites before making a purchase. For senior citizens, online shopping was more about selecting and shopping from a single website.
Looking at a huge shift of consumers over online platforms due to convenience, many retailers are also willing to switch to online retail platforms, many have already switched to it. But they are paying a huge chunk of their revenue as fees to retail platforms in the form of commission, shipping fees, and transaction fees.
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First Published:28 Mar 2023, 12:50 PM IST
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