Men spend more than women when it comes to shopping online

Published on November 30th, 2020
  Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
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The stereotype is that women shop more than men has been hot wired into our minds. From the glossy pages of magazines to TV ads, you will see the gleaming faces of women in heels toting multiple shopping bags on their elegant arm. However recent data released by KPMG shows that this dynamic is increasingly changing in Australia.

Online shopping dynamics are different than anticipated

While men and women shopped with about equal frequencies online, recent statistics by KPMG showed that men spent more per transaction (US$220) When compared to females (US$151). Surprisingly enough, Generation X consumers are the most active online shoppers making an average of 19 transactions for each online shopper.

Australians enjoy shopping online and this is proven by the $23.4 billion that we spent in 12 months leading to September 2017.

Shopping online has made it convenient to whipping out our credit cards to purchase what our most desired wants rather than needs. The purchase of physical goods has increased by 10.2% which grossed a total of $17.7 billion last year.

Online shopping is used to quench our thirst for wants rather than needs

Whether you call it ‘a hug through your card’ shopping or a ‘you deserve it’ purchase our need to purchase wants instead of needs show no signs of slowing down. Although using your credit card details to swipe online spells convenience and better deals, it can be a bad thing for the national credit card debt that sits at $33 billion.

It comes as no surprise that the top two categories for online shopping are the fashion and department/variety store items. This accounted for more than half of all online sales. Following hot on the heels of these two giants is the purchasing of media goods which experienced a 22.9% growth rate in 2016.

Use online shopping to your advantage

Like anything in life, you will need to understand the normal usage of it in order to avoid abnormal use (abuse) of it. Having a credit card that has a low interest rate combined with good repayment plans that don’t make it a tight squeeze for your budget at the end of each month can make your shopping experience worthwhile.

Understanding that using a credit card to make important purchases can save you from digging yourself into a pit of debt. You could be thinking that making the purchase online is convenient and cheaper than going to a physical store, but if it is on something that you don’t need it could pile on the interest on your card quickly.

Everything adds up, and making those small purchases online with your card can lead to large repayments on your card at the end of the month. Especially if it’s for unplanned purchases. Utilize your online shopping experience and credit card to work for you instead of the other way around.

The thought of delay gratification might suck for now, but in the long run you could reap the benefits. This will especially work in your favour when there are major online specials.

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