Market conditions for online dating
It’s not clear that the young and perky are the best market for corporate matchmakers.Two-thirds of the singles and fling-seekers in America’s online-dating market are older than 34, IBISWorld data show.The calculation of Statista’s Market Outlook is based on a complex market-driver logic including over 400 region-specific data sets.The segment of “Online Dating” is made up of online services that offer a platform on which its members can flirt, chat or fall in love. In contrast to matchmaking services, online dating focuses on casual contacting and easy flirting among its members.After taking off on college campuses, Tinder now boasts 26 million matches a day, and its leaders have invested heavily in maintaining its reputation as a hook-up haven for young people.After all, they don't call it a "meet market" for nothing.The users normally carry out the search on their own. Download this podcast SARAH GREEN: Welcome to the HBR Idea Cast. I’m talking today with Paul Oyer, Professor of Economics at Stanford’s Graduate School of Business. SARAH GREEN: So Paul, I’d like to just kick off by talking a little bit about the economic concept of search costs.
"It all depends on what you are bringing to the table.Another study, co-authored by famed behavioral economist Dan Ariely, uncovered similar online-dating preferences."Men and women prefer a high-income partners over low-income partners," the authors wrote in the journal Quantitative Marketing and Economics."This income preference is more pronounced for women."The takeaway: As much as we like to think we are beyond the days of Jane Austen, when suitors were evaluated largely based on how much money they brought in - the famous Mr. " - money can be critical in our romantic lives."Someone's income will almost always factor into the equation," says Douglas Kobak, a financial planner in Conshohocken, Pennsylvania."When you are becoming serious, you need to consider what your partner is bringing to the table besides love and a good time.” Both companies are dominant forces in America’s .2 billion online-dating industry, which in the last few years has quickly become a bedrock of the American love life.
One in 10 adults now average more than an hour every day on a dating site or app, Nielsen data show.
The question becomes one about the potential to earn the income needed to build wealth and live a lifestyle you want."Just think about the numerous economic judgments we are making while dating online.