An interesting post from Pay Pal’s blog courtesy of Cameron McLean, PayPal’s General Manager for UK Merchant Services (love the use of actual staff members to write!):
We’re all used to the idea that women love shopping till they drop and men will do anything to avoid visiting the retail mall. Well, the latest story from PayPal’s UK Online Retail Report suggests the Internet is turning men into shopaholics.
The report, conducted for us by Experian, indicates that almost 13 million British men shop online today compared with 10.3 million women. And almost twice as many men as women are joining the ranks of online shoppers.
A closer look at the findings reveals more striking evidence of men’s dominance on Britain’s ‘online main street’. Men outspend women in every online category except groceries and clothing. It’s no surprise that men spent a lot more on technology – our love of gadgets is well served by online retailers – but men in Britain also spend more on health and beauty.
Why have men fallen in love with online? At PayPal, we think the sheer convenience of the Web appeals to men. While many don’t want to spend precious hours on the high street, they love the fact they can do internet shopping any time of day or night – even while watching the latest big football game on television. And it makes it so easy to compare prices and research products without trudging from shop to shop.
Men’s impatience should prompt retailers to make sure their websites offer a quick and enjoyable experience. It’s a sign of how far we’ve come that today’s websites contain far fewer distracting graphics than in the days of painfully slow dial-up internet connections. Just as importantly, they realise how crucial it is to clinch the sale by making sure shoppers don’t give up before they check out. It’s the online equivalent of shoppers seeing a long line to pay in a bricks and mortar store, prompting them to leave the goods and go elsewhere. This is where payment companies like PayPal can really help, by making it quicker to checkout and pay online: in many cases, in just a few mouse clicks.