It’s boom time for shopping apps right now, with major retail events taking place like Black Friday, Cyber Monday and Asia’s ‘Double 12’ day and, of course, Christmas just around the corner.
Shopping apps are experiencing their busiest time of the year for sure, but that doesn’t mean quiet times are ahead after Christmas is over, as their global popularity is growing year-on-year.
The global shopping application market size was estimated at USD 868.4 billion in 2021, and is expected to reach USD 932.4 billion by the end of 2022.
Predictions are that the global shopping app market will keep on growing at a compound annual growth rate of 14.0% from 2022 to reach USD 2,168.2 billion by 2028.
Asia Pacific dominates the shopping app market (with a share of 46.7% in 2021), largely due to rising demand for electronic gadgets from consumers in China, and the growing trend in Japan to adopt technologically advanced apps.
In Southeast Asia ecommerce sales – which are predominantly carried out on mobile devices – will total $89.67 billion in 2022, an increase of 20.6% since 2021 and the highest growth rate in the world. Sales are expected to carry on growing in 2023 to cross the $100 billion mark.
Certainly, worldwide more consumers than ever are using mobile apps across their entire shopping journey, from finding inspiration to checking out, and there are more shopping apps available than ever before too.
In such a crowded market, it’s not easy to get your app noticed and to acquire new users, but there are ways of steering consumers in your direction.
Aligning with increasingly popular coupon apps (a category where sales downloads have grown 31% year-on-year) can bring bargain-hunting shoppers to your own app – a particularly relevant option during the current period where many consumers are financially stretched.
You could also consider working with buy now, pay later (BNPL) apps if your customer base has already shown interest in using this payment method.
These apps are among the fastest-growing in terms of downloads (up 81% year-on-year, though still only accounting for about 3% of overall downloads), and the right integrations can give retailers an edge when attracting price-conscious shoppers.
Another way of driving traffic to your app is through on-device app recommendations facilitated by discovery platforms such as Appnext.
Today’s fastest-growing mobile discovery technology company in emerging markets, Appnext has partnered with leading mobile carriers and android OEMs such as Oppo, Vivo, Samsung and Xiaomi (which have a combined worldwide market share of 48%).
Appnext’s proprietary behavioral analytics technology displays contextual and personal app recommendations according to the user’s behavior and intentions.
So, for example, recommendations for shopping apps for homewares, clothing or technology can blend into the user’s mobile experience from the first moment they customize their new device and throughout their daily mobile journey. They can be presented to users directly on their mobiles across various placements, from the minus 1 screen to folders and widgets, at relevant moments throughout the day.
These recommendations will be made at the appropriate moment, and also be relevant to the geographical location and in the correct language.
Elad Natanson, CEO and Co-founder of Appnext, commented: “Appnext discovery solutions usher in a new era of mobile, whereby devices are no longer simply gadgets that people call upon to send an email or play some music. Instead, mobiles are unique to the individual and – effectively – intuitive. As people’s reliance on their mobiles has grown, so has the expectation that their device will be tailored to meet their needs.
“It is impossible to overemphasize the significance of the complete discovery offering for OEMs, operators, advertisers and for the average user.”
With Appnext’s tech powering over 7B daily app recommendations to Android users worldwide, it’s plain to see that with Appnext on your side, your app will gain a global audience of shoppers this season.