Global shopping app installs soar 61% YoY in H1 2024
Adjust has released a new shopping app insights report revealing a significant surge in global shopping app installs, which have risen by 61% year-over-year (YoY) in the first half of 2024.
This figure surpasses the overall verticals average, with installs of e-commerce apps climbing by 25% and sessions increasing by 13% YoY. This growth can be attributed to the expansion of retail media networks, the deployment of next-generation digital shopping experiences, and the growing use of mobile wallets.
"Shopping apps are transforming how consumers interact with brands and make purchases," said Tiahn Wetzler, Director of Content & Insights at Adjust. "By working with AI and Augmented Reality, and integrating dynamic channels like social commerce and Connected TV (CTV), marketers can enhance user engagement and create experiences that drive high conversion rates."
The report notes the significance of the Q4 shopping season, highlighting that the period often results in substantial increases in app installs. For instance, Adjust recorded a 40% rise in installs above the daily average on 17 October 2023, and an increase of 41% on the following day.
Adjust's report offers critical insights for e-commerce app marketers and developers, covering various sub-verticals. Key findings reveal that e-commerce app session lengths in the Asia-Pacific (APAC) region averaged 10 minutes, slightly lower than the global average of 10.5 minutes.
Despite this, the APAC region boasted a Day 1 retention rate of 15%, outpacing North America and Latin America (LATAM), which recorded rates of 11% and 14.4%, respectively. Additionally, APAC had the highest number of partners per app, increasing from 10.7 in 2023 to 11.8 in H1 2024.
The report also highlights a 36% increase in in-app revenue YoY, with 60% of in-app revenue globally coming from Android devices. The most significant revenue spikes in 2023 were observed in Q4, with November's revenue 34% above the monthly average and December's up by 22%. Furthermore, global median installs per mille (IPM) rose from 1.94 in 2023 to 2.28 in H1 2024, indicating more effective ad campaigns. APAC demonstrated notable growth in this area, with IPM increasing from 1.53 to 3.06.
"In a competitive market where engagement and customer loyalty are critical to moving the bottom line, staying at the forefront of intergenerational consumer expectations and the technologies behind them is paramount," added Wetzler. "As the shopping app landscape evolves, scalable growth will be achieved through a strategic channel mix, smart personalisation, and a data-obsessed approach to measurement and analytics."
April Tayson, Regional Vice President for INSEAU at Adjust, commented on the rapidly changing shopping habits driven by evolving e-commerce technologies. "It is highly valuable for marketers and retailers to sharpen their campaign strategies to ensure optimal growth and success, especially in APAC. Our data shows that several Southeast Asian countries, such as Indonesia, Malaysia, Philippines, Singapore, and Vietnam, spend a considerable amount of time within apps, posing an opportunity for businesses to ride on this trend, which will likely grow even further in the foreseeable future."
