Consumers to Increasingly Demand Convenience from Apps

App Annie recently predicted that consumer spend in app stores will grow approximately 30% year-on-year in 2018, surpassing the $100 billion milestone.

Part of this growth will be driven by the desire of consumers to get more convenience out of their devices, their analysts have suggested, particularly with regards to retail.

‘Cyber Monday’ in 2017 saw over $2 billion spent online in the USA – doubling the amount spent on Black Friday.

In China, Alibaba’s ‘Singles Day’ saw $25.3 billion spent, over 90% of which was transacted via mobile.

Shoppers typically spend around one hour per month in online shopping apps in the UK and the USA. Consumers in South Korea are close to spending 90 minutes.

The trend towards online retail is set to continue in the new year, perhaps with some new innovations.

App Annie expects ordering online for collection will become more pronounced in the USA – the practice is already commonplace in China, and outlets such as Target have adopted the service early.

In the coming years “mobile will serve as the core habit with respect to shopping, no matter the channel” states their report.

Users’ need for convenience will also act on the video streaming market, which is becoming evermore fragmented at present as new players jostle for position.

Consumer reluctance to have several different sites and interfaces to deal with will force consolidation in the space towards the end of the decade, creating a major risk for investors and startups.

Read more from App Annie here.