Traditional department store retailers looking to bolster traffic in their physical stores may want to fix their sights on men, who prefer shopping at full-price retailers over online, according to the latest “retail disruption” analysis and consumer survey by First Insight Inc.
The survey also revealed that men are not fond of shopping on a mobile device as compared to women. And when it comes to buying on Amazon, men do so less frequently than women. “Only 22 percent of male respondents reported frequently shopping on mobile devices compared to 40 percent of women, and only 46 percent of men are frequently shopping on Amazon versus 60 percent of women,” the report noted.
The survey of 1,000 consumers, showed that more women (54 percent) subscribe to Amazon Prime than men (43 percent).
“The study points to a significant gender gap between how men and women shop and make purchase decisions as the retail industry responds to disruptors such as mobile shopping, Amazon, discount retail and artificial intelligence,” said researchers at First Insight, which offers technology aimed at helping brands and retailers increase conversions and sell at higher price points.
Greg Petro, chief executive officer and founder of First Insight, said the data has “unearthed a significant gender gap between how men and women shop and make purchase decisions. These new disruptive technologies and the growth of discount retailers are making the majority of shoppers more price-sensitive. The fact that men are less inclined to shop online overall and prefer to go in-store is a significant finding, particularly as retailers consider how to align their in-store selection and pricing to meet consumer appetites.”
Other notable findings of the report include that 44 percent of men surveyed cite “being able to touch and feel a product as a main driver that takes them in-store.” This compares to 33 percent of women respondents. The poll also showed that 42 percent of male respondents are “much more likely” to shop at a full-priced retailer over discount retailers (18 percent). This compares to 38 percent of women who prefer discounters over full-price retailers at 31 percent.
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