Andres Izquieta is co-founder/CEO of Five Four Club, a new subscription ecommerce service that provides men with monthly packages of apparel, based on a brief sixty-second style profile they fill out when signing up for the service.
When it comes to ecommerce categories like grooming and fashion, the women's market has long been the focus of marketers. And who can blame them. Women historically make upwards of 80% of the purchase decisions in the home, they're statistically more active online, and tend to maintain longer session times on websites. Plus, they're natural 'window shoppers' — in the physical and virtual world.
That said, in the past year, the men's ecommerce market has seen more than a half dozen ecommerce launches, including Mr. Porter, Birchbox Man, and Dollar Shave Club. Here are the six major trends driving this growth.
1. Purchase Power
Five years ago, the number of male-focused online retail sites in categories such as fashion and style were limited, in part because it was widely believed that men don't shop online. However, according to a recent iProspect survey, 70% of men research and buy online, with 67% making more than one purchase each month. The result: according to IBM Global Business Services, the sales of men's apparel was on track to grow 8.26% in the first half of 2012. This is the largest increase seen in the category in decades.
2. Access
Ten years ago a man's grooming products, like a lot of his clothing, were based on what was available at local, mass-market stores. A review of media and marketing at the time showed just a few male-focused magazines on the market to give men the access and exposure that helps drive purchases.
With online content, social networks, and other tools, men are now being exposed to more options than in the past. This has created a new and growing appetite to expand tastes, styles, and products. In addition, online retailers can tap into what men seek and need in a way that offline retailers, because of issues like overhead, can not. For example, a recent industry trend study said that up to 37% of male shoppers check social networks for comparison shopping and other related information.
3. Less Is More
For many women shoppers, abundance and variety are often key. For most men, it is usually the opposite. One look inside a man's medicine chest or under his sink will often yield to a small handful of key products. A single item, such as a jacket, can carry him through most wardrobe needs. For men, it's not about the volume of merchandise, but the right items to fit his various lifestyle needs. Concepts like 'curated' shopping, styling services, and pared down collections, such as Gilt Man, can do well when targeting the online male shopping consumer.
4. Ease Is Key
When it comes to purchases, male shoppers just want to get what they need and get it fast. That doesn't mean that thought and time doesn't go into what men buy, or that men don't do their fare share of browsing within their shopping experiences. But ease and access are important components.
That's why subscription commerce concepts are booming in the men's online shopping category. These services often require little more than a minute or so of time and conveniently provide whatever a man needs. It's not a surprise to then see the explosion of companies like Dollar Shave Club or Birchbox Man. These services enable men to receive what they need in a streamlined way.
5. Niches Offer Opportunity
A new breed of companies, brands, and retailers are tapping into specific niche spaces. This can be as specific as body type, shoes, or other specialty needs. Companies like Karmaloop hit the urban street style, while Mr. Porter tends to the professional male.
6. Loyalty Matters
The average consumer will return to a product he or she believes works for them over and over again. This is consistent regardless of gender, income, or other factors that drive offline or online purchases. By consistently giving men not only what they want, but in the way that they want, dozens of legacy brands like Dockers and Banana Republic have secured and maintained loyal male followings. Upstart companies, be it in subscription commerce, specialty retail, curated shopping, or discount merchandise, can achieve the same by adhering to where and what motivates male consumers at the core level. This can help drive men to a brand and keep them there.
Image courtesy of iStockphoto, Eva-Katalin
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