Mobile commerce is evolving at an unprecedented rate, driven by innovative technologies and changing consumer behaviors. According to The Shopping App Insights Report by Adjust, we can expect significant growth in e-commerce app installs, shopping apps, and revenue generation in the first half of 2024.
State and Development of E-Commerce and Shopping Apps
The report reveals that e-commerce app installs increased by a whopping 25% year-on-year during the first six months of 2024. Shopping apps delivered even more impressive results, with installs growing by an astonishing 61%. Holiday sales events, such as Black Friday and Singles' Day, significantly contributed to this growth. For instance, on October 17, installs were 40% higher than average, and on October 18, they were up by 41%. The highest growth in installs was observed in Latin America and the MENAT region, where installs increased by 107% and sessions grew by 27%.
Decrease in Session Duration in E-Commerce Apps
On a global scale, data indicates that the session duration in e-commerce applications decreased by 6% from 2022 to the first half of 2024. The average session time dropped from 11.2 minutes to 10.5 minutes. Shopping apps exhibited the most significant reduction, with an average session duration decrease of 15%. This decline may indicate more efficient user journeys and process optimization.
User Session Growth in Shopping Apps and Marketplaces
Shopping apps and deal-finding applications show similar results in terms of sessions per user on day 0 across the entire vertical. In 2023, the global median for all applications was 1.48 sessions on day 0, while for shopping apps and deal-finding applications, it was 1.45 and 1.46, respectively. Marketplace and classified apps demonstrated higher metrics, starting at 1.84 sessions on day 0 and decreasing to 0.2 sessions by day 30.
User Retention Levels in E-Commerce Apps
In 2023, e-commerce applications exhibited a retention rate of 18% on day 1, which unfortunately dropped to 5% by day 30. Deal discovery apps also started at 18%, but retained only 7% by day 30. Shopping apps showed an even steeper decline, starting at 17% on day 1 and dropping to 4% by day 30.
Increase in Advertising Efficiency and Cost per Impression
The global median installs per thousand impressions (IPM) rose from 1.94 in 2023 to 2.28 in the first half of 2024. This indicates an improvement in the effectiveness of advertising campaigns. The APAC region experienced a significant increase in IPM, rising from 1.53 to 3.06.
Growth of Revenue in E-Commerce Apps
In the first halves of 2023 and 2024, revenue from e-commerce apps increased by 36% year-over-year. The largest revenue spikes were recorded in the fourth quarter: in November, revenues were 34% above the average monthly figure, while in December, they were 22% higher.
Influence of Gen Z on the Shopping Ecosystem
The purchasing power of Generation Z is transforming the shopping ecosystem. They value social commerce (63%) and live shopping (57%) as key components of their shopping experience. These trends are particularly evident in China, where Douyin (the Chinese version of TikTok) is projected to generate $198.8 billion in revenue in 2024 due to its innovative use of social commerce.
Innovations in Shopping Apps
Shopping apps are actively developing new purchasing experiences by leveraging AI and AR technologies. For instance, virtual try-ons and at-home visualizations are becoming increasingly popular. Subscription models are also gaining popularity in the e-commerce sector, particularly in marketplaces inspired by examples like Amazon Prime.