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Why don’t more women show interest in crypto-shopping?

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. This disequilibrium is very interesting considering that women’s interest in more traditional ways of online shopping (incl. online stores and marketplaces like Amazon) is very high and even higher than that of men. The gender gap is not exclusively limited to crypto-shopping activities. Recent research found that women’s interest in any kind of crypto-asset is roughly half of men’s (source: cnbc.com/2021/08/30/cryptocurrency-has-a-big-gender-problem.html).

When did new crypto-shoppers get their first crypto?

Although we have discovered a little positive correlation between Bitcoin prices (or crypto-prices in general) and women’s share among new crypto-shoppers, it was not possible to name the reasons behind their preferences. From another angle, this lack of participation indicates a great business opportunity. What you read about crypto-shopping, including demand and trade volumes, is only half of the story. Whoever can convince more women to spend their crypto will be shaping the market.

Businesses who accept crypto must target reaching out to more women not only because they have the potential to spend more, but more importantly, they spend periodically. As much as 16.7% of women purchase goods and services with crypto almost every day! This is not more than men, but do not forget it’s only the beginning yet. Nevertheless, 38.9% of female crypto-shoppers buy stuff with crypto on a weekly basis, which is really a lot, and even more than men. Another 27.8% is doing crypto-shopping monthly or so.

Female crypto-shoppers – including first-timers – were also asked what is holding them back from spending crypto on the stuff they usually buy online via traditional payment systems (credit card etc.). 45% of Female Cryptoshoppers agree that there are not enough stores that offer products and services that can be purchased with Crypto . Other reasons for not making purchases with crypto include – not so surprisingly – high transaction fees and crypto investments with a long-term expectation of price increase in their crypto-assets. Please note that this research included participants who were already introduced to crypto-shopping. The ones that stay off from anything crypto were quite out of the scope and keep hiding the mystery.

When did new crypto-shoppers get their first crypto?

Stay crypto-tuned!

Umut Can Çabuk

CryptoRefills.Labs