Discounts & coupons are the primary driver behind growth in mobile app shopping
A new report from App Annie confirms what we’ve already suspected when it comes to our Connected Socity – that consumers are increasingly using mobile apps to shop. Per the report, consumer spending has more than doubled, exceeding $86 billion in 2017, up more than 105% since 2015. Interestingly, while time spent in apps increased by 30% over that same time frame, which means consumers are increasingly using apps as a shopping destination rather than casual browsing.
The largest reason for this shift to mobile app shoppng, a part of our Connected Society and Cashless Consumption investing themes?
Our Cash-strapped Consumer investing theme – discounts, coupons and credits.
Consumers love mobile apps: In fact, there were 175 billion downloads globally in 2017 — a 60 percent growth from 2015, according to App Annie’s end-of-year retrospective report.
- A little more than two in 10 shoppers of large format shoppers — or 22 percent — say the biggest reason they use their retailer’s mobile app is because they receive discounts, coupons and credits.
- 13 percent of customers of large format stores say the biggest reason they use their retailer’s mobile app is because they can get product information.
- 12 percent of large format shoppers say the biggest reason they use their retailer’s mobile app is because they can find a product while they are in a store.
- 12 percent of large format shoppers say the biggest reason they use their retailer’s mobile app is because they can buy products through the app.
- A little under one in 10 — or 9 percent — of large format shoppers say the biggest reason they use a retailer’s mobile app is because they can pay for products when they are in the store.
Source: Shoppers Use Retail Apps Because Of Discounts | PYMNTS.com
