New research from Barclaycard has found that men are outspending women on clothing and that retailers are responding with ever-growing men’s lines and a better online presence.
To assume that only women are concerned about looking good is to entirely misunderstand evolutionary biology – just look at the peacock. In fact, males of most species (even human) have more to gain by being attractive than females do. However, it’s our culture that dictates how we act on a day-to-day basis, and when it comes to male shopping, there’s been a turn in the tide. This growing appetite can be experienced both in terms of the diversity of male clothes lines, as well as shopping habits recorded via survey research and credit card analysis.
As one of the biggest providers of credit and debit cards in the UK, Barclaycard is in the know when it comes to the shopping habits of Brits. The company has released research findings that prove that men are actually spending more on fashion than women. In fact, men are spending on average £114 each month, averaging out over the year as £300 more than women, who spend £88.60. Another boon for retailers is the fact that male shoppers are far less likely to return items than women.
It’s clear that men are increasingly becoming a more profitable target market for fashion retailers. Today, 26% of retailers are targeting a largely male or all-male group of customers, whilst only 17% of shops are targeting a largely female or all female audience. The range of men’s clothes has also grown, both in store and online, with 25% of retailers increasing their men’s collection simply because they are witnessing men spending more than ever.
Nearly half of all men surveyed claimed that despite the increase in their spending, they still prefer to shop online. Many men prefer shopping online because it’s faster and requires less interaction with other people. Men still want the best though, which is why many choose to buy mens designer clothes from online retailers, such as www.ejmenswear.com.
This is great news for retailers who are already ahead of the curve and shows that targeting a wider audience, delivering a diverse range and selling online are key lessons for tomorrow’s retail success.