CHICAGO--(BUSINESS WIRE)--daVinci Payments today released the 2021 edition of its national “Dudes Go Shopping” study, which examines male shopping habits, the avenues in which men shop and what influences their purchase decisions.
“Compared to our 2020 men’s shopping report, the way men shop has further accelerated to online and mobile avenues,” said Rodney Mason, daVinci Payments’ Chief Marketing Officer. “This makes it more crucial than ever for brands to offer best-in-market pricing and value options like rebates and loyalty programs to incentivize customers and ultimately drive repeat spend-back dollars.”
The top findings and trends are detailed below:
Online, mobile and contactless options dominate the way men are shopping, driven by the need for convenience and time. Additionally, male shoppers prefer online and mobile, due to the wider array of choices and the availability of safer, contactless shopping.
- 70% of respondents do the majority of their shopping online, up from a reported 53% in daVinci Payments’ 2020 Dudes Go Shopping study.
- Two-thirds of male shoppers report doing the majority of their shopping via smartphone, which is an increase of more than 22% in the past year.
- 61% of respondents’ in-person transactions are contactless.
- 80% of respondents shop online due to convenience.
Price is a top purchase driver for male shoppers, and the majority of respondents reported they would prefer to receive a higher value rebate over an instant discount. They also like to be incentivized through loyalty reward programs.
- 57% of respondents would choose a $100 rebate over a $50 instant discount.
- Prepaid cards are the preferred shopping reward and refund payment method of choice.
- 83% of respondents would choose a brand with a loyalty program over one without, if all other things were equal.
- 77% of respondents would use a surprise offer that accompanies a prepaid reward.
The study also revealed that social media, subscription shopping and consignment reseller shopping sites are taking an increasingly large market share among men as online shopping continues to expand.
- Two-thirds of men surveyed shop resale and consignment sites. The younger the shopper, the more likely they are to shop a reseller.
- Amazon is the top retail marketplace where shoppers learn more about brands, shop online and participate in loyalty programs.
- The top three categories shopped through reseller sites were electronics, collectibles and gaming.
The study is available for download here - https://www.davincipayments.com/research-studies/the-future-of-shopping-dude-goes-shopping-2021/.
About daVinci Payments
daVinci 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 contractors, customers, employees, 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.
