Mobile shopping is more popular than ever. During the early stages of the pandemic, e-commerce app usage skyrocketed, as online shopping provided a convenient alternative to closed brick-and-mortar stores. Even though many markets have reopened, mobile is still the preferred channel for shopping.
According to a recent survey, 68% of US consumers now shop on mobile more frequently than they did two years ago. The continued growth in e-commerce app usage is largely due to global technological advances, which include advancements in everything from digital payments to logistics. However, it also reflects the value the vertical continues to demonstrate as shopping and purchasing options diversify.
In 2022, the use of e-commerce apps will continue to rise
E-commerce app sessions have been steadily increasing in 2022. Sessions increased by 8% in H1 2022 over H1 2021 and by 6% over H1 2021. E-commerce app sessions were also significantly higher than in the early days of the pandemic. On average, sessions were 31% higher in H1 2022 than in H1 2020. This demonstrates that the shift to mobile shopping is a long-term trend for the vertical, rather than a fad.
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Users spend more money in-app every year
Furthermore, so far in 2022, in-app revenue for e-commerce apps is down (it increased 46% year over year in 2021), but it exceeds the average in-app revenue of 2020. In-app revenue increased by 91% in H1 2022 compared to H1 2020. May 2022 in-app revenue was also the highest this year, with the month ranking 12% higher than the H1 2022 average.
The top 6 trends driving e-commerce app growth in 2022
1. Future of audio experiences looks promising
Audio has experienced a significant resurgence as a result of the COVID-19 pandemic, with the global podcast market growing at a CAGR of 31.5% and audio apps such as Clubhouse and Spoon gaining traction. However, we're also seeing well-known apps launch audio experiences as app enhancements. Hinge, for example, recently added an audio feature that allows users to upload 30-second audio clips to their profiles.
We anticipate that audio experiences will permeate the e-commerce industry as well. Consider audio-only customer-to-customer Q&As, client testimonials, and customer support. Bobby Koscheski, Global Director of Omnichannel Payments at ACI Worldwide, told PYMNTS that soon, audio signals from users will be used to prompt personalized offers from mobile apps. The future looks promising.
2. Livestream shopping has grown exponentially
Since the pandemic, live shopping on social media has grown exponentially, particularly on platforms like Instagram Live and YouTube. Brands will showcase a product during Livestream shopping, and then a pin for the product will appear, allowing viewers to tap the pin and add the item to their shopping cart.
As of 2021, conversion rates from live streams were ten times higher than other e-commerce formats, and experts predict that the live shopping sector in the United States will be worth $35 billion by 2024.
Ownit Connected Checkout, which was recently launched, provides a hack for e-commerce apps by providing Livestream shopping and point-of-discovery capabilities that do not disrupt a user's social media experience.
3. Buy-now-pay-later services are growing in popularity
Consumers are increasingly expecting buy-now-pay-later (BNPL) services such as Klarna and Afterpay to provide an alternative payment method. This payment method allows customers to make a purchase and then pay for it in installments. Consumers frequently find BNPL to be a more convenient and flexible payment method than credit cards.
Buy-now, pay-later services are gaining popularity because they allow customers to receive a product without having to pay right away. The total BNPL payment value in 2022 will be $75.6 billion, up 77.3% from the previous year, indicating exponential consumer demand.
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4. CTV advertising
CTV advertising is a trend and evolution of the industry that many app marketers are tapping into across all verticals, including e-commerce. Since Apple's iOS 14.5 update and the launch of AppTrackingTransparency (ATT), as well as Google's depreciation of third-party cookies, app marketers have been looking for alternative channels to reach their target audience while adhering to data privacy rules and regulations. CTV debuted as a new performance channel.
Currently, approximately 40% of adults watch videos on CTV every day, and this figure is expected to rise. Many marketers have noticed the increase in CTV viewing, and Adweek predicts that CTV ad spending will reach $21.2 billion in 2022, up 39% from 2021.
5. Headless commerce
To remain competitive, e-commerce apps must be digitally agile. Many merchants have turned to headless technology to create a seamless experience for their customers across all channels to meet ever-changing changes in consumer behavior. A whopping $1.65 billion in funding for headless technologies has been raised in the last two years alone, indicating demand.
The headless architecture sends information in real time between the digital consumer-facing storefront, or frontend, and the backend processes, tools, and systems via an API. As a result, multiple channels can be easily integrated and managed, eliminating the need for separate processes and tools.
For example, last month, Twitter announced its partnership with e-commerce software Shopify, allowing merchants to link their Twitter accounts to the social network’s platform Shopping Manager and access its tools. Merchants can then showcase their products on their Twitter profiles with Twitter Shops or Shop Spotlight to grow brand awareness, increase product discovery, and drive purchase decisions.
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6. Augmented reality assistance
The use of augmented reality (AR) to help with in-app shopping isn't new, but it's certainly popular this year. According to a Valuates report, the global AR in the retail market will grow at a CAGR of 20% between 2022 and 2028. This continued growth in AR is most likely due to the increased use of linked devices and global smartphone penetration.
Many e-commerce apps are using augmented reality (AR) to allow customers to try products in-app. In this case, AR digitally adds a product to a real-life view obtained from a smartphone.
For example, Amazon Fashion released its Virtual Try-on for Shoes for the Amazon shopping app last month. This feature uses augmented reality to allow customers to see how a pair of shoes will look on their feet from every angle from the comfort of their own home.
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Mobile Growth,App Store Optimization,Creative Optimization & Creative strategy,User Acquisition,Mobile Analytics,
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