Crypto-shopping is a buzzword capturing the collision between cutting-edge blockchain technology and the dynamic world of e-commerce. As digital transactions evolve, this realm of cryptocurrency-fueled shopping is drawing increasing attention. Yet, who exactly are the trailblazers navigating this new landscape? While the very-detailed answers were presented in the full version of the Cryptorefills Lab’s 2022 report, here we provide a snapshot, revealing that education plays a surprisingly prominent role in crypto-shopping trends. Interestingly, data suggests that these pioneers tend to be more educated than the average global citizen.
Cryptorefills Lab’s 2022 report provides great insight into the crypto-shopping preferences of consumers across the globe. Based on the information in the report and comparing the current statistics with the previous year’s report, it is seen that cryptocurrencies are increasingly being used as a means of payment in developed markets. While the demand from the emerging and least developed markets can be linked to the fact that many people in those countries do not yet have access to traditional financial services, like credit cards, or are facing hyperinflation in their local currencies, so the increasing demand from the more developed markets is worth paying attention to. The chart compares the data from 2021 to 2022 and emphasizes the increase in the share of crypto-consumers in high-income countries, as well as OECD members and states in the European Union, which often are categorized as well-developed.
Our 2022 “Full” edition of the “Cryptocurrency in Retail: Consumer Adoption Report” for the first time features a Cluster Analysis. In this brief article we explain what a cluster analysis is and how it is used for marketing research. We then explain the analytical methodology we used for our research. We conclude by describing the Cluster Analysis section of our Report 2022 by explaining the content and types of charts and data included.
Women’s interest in crypto-shopping didn’t increase during the first three quarters of 2021. According to Cryptorefills Consumer Report 2021, in the year 2020, females’ share among all crypto-shoppers was only 8.8%. This rate was recorded as 8.5% in the first nine months of 2021. We also note that no crypto-shopper has responded with a non-binary gender.