CHICAGO--(BUSINESS WIRE)--daVinci Payments today released a new national study that reveals the shopping behaviors of women and men are more alike than ever before. The findings track down how each gender makes purchase decisions, incentives that prompt them to buy and what drives their brand loyalty, including the following:
- Over two-thirds of men and women now do the majority of their shopping online.
- More than two-thirds of men and women now do the majority of online shopping on their phones.
- 88 percent of women and 83 percent of men choose brands with the best loyalty program.
- Amazon is the number one way both audiences learn about new products, with more than three-fourths of all men and women subscribing to Amazon Prime and two-thirds making the majority of their online purchases from Amazon.
- Prepaid is the number one preferred shopping reward.
- Price and quality are the top factors when making purchasing decisions.
- The majority of women and men choose a $100 rebate over a $50 instant discount.
- Virtual and physical prepaid cards are the shopping reward of choice.
- More than three-fourths of men and women would use a surprise offer that accompanied a prepaid reward or refund, providing a significant opportunity to drive spend back.
“Brands must up their mobile selling strategy to sell to more men and women,” said Rodney Mason, CMO at daVinci Payments. “This means maintaining a significant presence on Amazon, offering loyalty rewards people prefer like virtual prepaid rewards, consistently delivering best-in-market prices most often derived from rebates, and capturing more return payouts by driving spend-back with offers attached to virtual prepaid rewards.”
“Brands have to work harder to engage men and women shoppers,” said Mason. “Every customer interaction has to be met with greater efficiency and focus on rewarding and paying them the way they want to be paid.”
The study available for download here - https://www.davincipayments.com/research-studies/, will be presented in a Cardlinx webinar held on Tuesday, January 12 from 12:00-1:00PM ET, which will discuss how brands and retailers can use mobile and social incentives to drive more engagement. The conversation will be led by daVinci Payments CEO David Josephs and CMO Rodney Mason. Sign up for the webinar here - https://cardlinx.org/events/webinars/
About daVinci Payments
daVinci is a fintech leader that delivers corporate funded payments with greater value for all stakeholders. Blending art, science and a quarter-century of experience, daVinci delivers the most advanced payment solutions including virtual and physical prepaid, push pay and beyond with branded engagement for businesses, their customers, employees, contractors, participants and channel partners around the world. Learn more about daVinci’s payment solutions at www.davincipayments.com. daVinci is owned by Syncapay, a holding company, “Investing in The New Frontier of Payments” which also owns North Lane Technologies and is backed by Bain Capital Ventures and Silversmith Capital Partners.