If you’re shopping online, you may be wondering what are people buying. What products are in high demand right now? The statistics reveal that consumers are buying a variety of products, including electronics, music downloads, and books. What’s more, one in five consumers would buy a product from a brick-and-mortar store if they couldn’t find a cheaper version online. The answer is the same for mobile devices.
The most popular products purchased online by men and women alike were household furnishings and clothing. Millennials aged 16 to 24 were the largest group of shoppers, followed by Gen Xers, who are well-educated and highly tech savvy. They spend a little over $1,900 a year on online purchases, whereas Gen Xers spend around $2,100 annually. However, there are some differences. Men are more likely to spend money online on technology, and 93% of American parents said Gen Z influenced their buying habits. This group is expected to account for nearly 40% of all online purchases by 2020.
The biggest segment of online shoppers was the millennials, who accounted for 20.2% of all purchases in the US. Other large groups included those aged 45-54, 55-64, and those over 65. In terms of the age demographics, the US isn’t far behind. According to the study, 69% of adults in the US had made an online purchase, and a quarter of them made an online purchase at least once a month.