Wealthy consumers utilize electronic payment systems
June 27, 2013

Business that utilize electronic payment systems ensure they not only reach more customers online but also increase sales. A new study by Martini Media and comScore found affluent consumers purchase goods online 47 percent more often than their less wealthy counterparts. 

According to MarketingProfs, the "Affluent Online Shopper Index" examined the buying behavior of consumers with annual earnings more than $100,000 in the first quarter of 2013. The study found wealthy shoppers spend an average of 41 percent more on digital purchases than less affluent consumers.

The first quarter of 2013 saw a rise in how often wealthy consumers shop online; during the fourth quarter of 2012, affluent customers were 31 percent more likely than other shoppers to buy goods through a digital portal and spent 15 percent more. 

The study reported the average amount wealthy customers spent on each purchase last quarter was $184, with the most commonly bought items being event and movie tickets, apparel and electronics.

Small- and medium-sized companies can increase their revenue by investing in electronic payment systems and online credit card processing software. By providing customers with the option to go online and purchase goods, businesses can boost consumer purchases. 

Nexus: G-WEBCD6