It’s a centuries-old stereotype about the differences between men and women, but new research has debunked the myth.
According to the new data, Australian men have spent more than women online up to almost double their last year, blowing up a centuries-old stereotype.
In a research paper published by the brokerage firm expertMen have been shown to spend an average of $ 300 per week on physical goods in virtual markets, a far cry from the $ 170 per week spent by women.
The figure was just one of a series of fascinating insights uncovered about our online shopping habits.
Generation Y led the pack when it came to the largest weekly spend by age group, averaging $ 308 per week, while Baby Boomers posted a frugal $ 54.
The data revealed that despite the pains of the pandemic, retail therapy was on the rise for Australians, with a whopping $ 62 billion spent on online goods in 2021.
More than five million households headed for e-till every month, a 39% increase from December 2019.
“Australians are more addicted than ever to retail therapy,” said a Savvy statement.
“Since the pandemic, which has seen consumers spend more online to avoid boredom, the growth of online retail has been boosted as foot traffic becomes web traffic.”
Higher-cost suburbs revealed
New South Wales has been the country that has spent the most in the past year, with customers shelling out an average of $ 257 per week.
The town of Helensburgh, on the south coast of NSW, has emerged as the first suburb for household spending, followed by Silverdale and Seaforth.
Point Cook in southwest Victoria was the number one location by volume of purchases nationwide, followed by Liverpool in NSW.
Surprisingly, Queensland, South Australia, Tasmania, regional WA, and Victoria all experienced below-average online consumption growth.
Put your money where your home is
Household items and appliances were the most popular items purchased online over the past year, raising 23.8 percent of the national total.
Department stores (16.3%) and food and liquor stores (15.3%) follow.
Surprisingly, fashion was at the bottom of the list with only 10.9%, showing a movement towards the more practical needs in life.
The data also provided insight into which sectors experienced the strongest growth during the 2021 lockouts.
Variety stores top the list with 74.1% increase in online traffic and sales, closely followed by food and liquor (69.5%) and home and garden (61.2%).
Health and beauty (34.1%) and media (30.1%) recorded the lowest year-over-year increase.
Most surprising of all, however, was that takeaway held the smallest share of the online retail pie, accounting for only 5.9% of the spend.
Money followed the path of the dinosaurs
Perhaps the most surprising figure of all was the growing difference in generational consumer habits.
Generation Z shoppers accounted for 62% of online shoppers at 2021 Black Friday and Cyber Monday sales, while only 9% of shoppers were Baby Boomers.
Death bells are ringing for physical cash, with only five percent of shoppers still using hard currency for online purchases, the majority opting for PayPal or Amazon Pay instead.
However, that doesn’t mean it’s all reckless card interception by young shoppers, with 59% of consumers using discounts or codes directly from retailers.
A whopping 80% of shoppers also said sustainability is a key factor when it comes to online retail, reflecting a 71% increase in searches for sustainable products globally.
Grocery and fashion stores have the highest amount of sustainable transactions, while 60% of shoppers indicated they would be willing to shell out more for ethically sourced products.
Australian retail is still a small fish in a much larger pond
Despite growing 12.3% over the past year, Australia’s online retail is still just the tip of the consumer iceberg.
One example highlighted in the research was South Korea, where 53% of online shoppers checked out at least once a week, more than double the 25.3% in Australia.
Despite the lagging numbers, experts have suggested the online retail sector to continue growing over the next few years.
“At the start of the pandemic, some of the biggest drivers of online shopping were retail restrictions and the fear of contracting Covid-19,” said a Savvy statement.
“Now, these primary reasons have diminished dramatically and have been replaced by convenience, greater access to products and value for money.”
Originally published as New research breaks age-old stereotypes about women and shopping