Affluent Males Spending Time and Money Online

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iStockHistorically, research has identified women as the main online shopping gender, but a new survey from iProspect shows that brand marketers may need to up their game when it comes to targeting men online. According to the survey, there are more than 19 million affluent men on the Internet researching, shopping and spending at higher rates than ever before.

iProspect defines the affluent male as a man at least 18 years of age with a household income of $100,000 of more, and almost all of them are spending some of their hard earned cash online. 98 percent of those surveyed said they purchase products online with 27 percent of the group saying they make weekly online purchases. 45 percent are spending more than $4,000 per year, and 13 percent are spending in excess of $30,000 annually. And while the majority of the shopping decisions are made on a computer, more and more men are shopping on mobile sites.

Additional findings about affluent males point to the need for brands to make sure they are present and on the go. 77 percent of affluent males own a Smartphone, and 50 percent own a tablet. More importantly, 77 percent are actively using their mobile phones on a daily basis, 50 percent utilize tablets and 91 percent are surfing on their computers. Among their most frequent activities on these devices was researching products.

This research is definitely important in terms of marketing. Brands need to make sure that they are keeping up with where all of their consumers are and what they want to see. If you’re looking to improve your business’ marketing strategy, contact Marketing RELEVANCE.