CHICAGO--(BUSINESS WIRE)--A sports media tsunami and the return of seasonal outdoor quests have many men itching to restock their provisions. That’s why daVinci Payments conducted a double-header national examination, to track down how men make purchase decisions and the incentives that spur them to buy and drive loyalty.
The outcome from two national studies have been amalgamated to reveal:
- The majority of male shoppers, especially younger men, have more income and buying power this year
- Price is the number one factor in making purchases
- 53 percent do more than half of their total shopping online
- Most prefer online shopping for its convenience
- 40 percent make more than half of their online purchases from their smartphone
- Two thirds prefer richer rebates over instant discounts
- 80 percent will spend back prepaid rewards when provided a savings offer with the reward
- The majority claim greater loyalty to brands that surprise them with savings offers
- 67 percent believe name brands are 16 percent more expensive than private label brands
- Most men are neutral in preferences between name brands and private label brands
“Men’s price sensitivity and preference for rebates provides a significant opportunity to attract them with best in market price offers. When their rebate reward is instantly delivered to their phone with a relevant offer attached, they say they will spend it back where the original purchase was made and it makes them more loyal,” said Rodney Mason, daVinci Payments’ Chief Revenue Officer. “As brands fight to foster loyalty among male shoppers, ongoing surprise offers and value rewards to encourage future spending will be key.”
Aligning with current eco-friendly and cost-saving trends, men are also moving toward consignment and resale purchases more than ever before. More than 50 percent of respondents either frequently or regularly purchase used products or take advantage of rental sites.
For more details, you can see the full study here: https://www.davincipayments.com/research-studies/.
About daVinci Payments
daVinci Payments is leading the payments movement to greater value through high-impact brand connections at the intersection of the payment. daVinci optimizes corporate-funded payments to businesses, their customers, employees, contractors, participants and channel partners through virtual, digital and physical card payments in 160+ countries, 17 languages and 10 currencies. www.davincipayments.com. daVinci is owned by Syncapay, a holding company investing in the new frontier of payments.