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Men, Not Women, Are the Serious Shopaholics

Althea Chang
Big Data Download
Men, Not Women, Are the Serious Shopaholics

Popular television shows and films may portray women as shopaholics and big spenders, but men generally spend more per month than women, according to recent analyses of spending data.

Men spent more than women on alcohol, entertainment, and restaurants, spending a total of $600 to $700 more than women per month across all spending categories in the first quarter of this year, according to Intuit budgeting tool Mint.com, which tracks credit and debit card spending and aggregates data anonymously.

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"They're spending 37 percent more than women on alcohol. They're also spending 29 percent more on eating out, and eating out at places like coffee shops and fast food as well as restaurants," said Intuit Innovation Leader Lisa Marco Pritchard on "Big Data Download."

Men may tend to foot the bill for women at restaurants however, Pritchard said.

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Apparel is the only category in which women spend more than men, Pritchard said.

About 13 million users aggregate their accounts on Mint.com. About 2 million of those users opted in to provide demographic data that allow the company to identify spending trends based on gender, income level and state of residence, Intuit said.

The Mint.com website gives users a better look at their spending habits, but Intuit says its companies can benefit from the spending trends it's identified as well, for example by targeting their advertisements differently based on the demographics.

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But unless Mint users break out their cash transactions on their Mint accounts, which requires several extra steps, cash spending is left out of the equation.

And apparel spending doesn't always include clothes bought at big box retailers like Wal-Mart (WMT) and Target (TGT). Users would also have to manually designate those purchases as apparel on on their Mint.com accounts in order for them to be counted as such.

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