Singapore – With the ongoing expansion of retail media networks, a recent study from software development firm Adjust revealed that shopping app instals increased to 61% year-over-year in the first half of 2024. On the other hand, e-commerce app instals increased by 25%, with sessions rising by 13% year over year.
Data from the report also found that e-commerce app session lengths in e-APAC averaged 10 minutes, a slight decrease from the global average of 10.5 minutes.
Notably, the region had a 15% Day 1 retention rate compared to North America and LATAM, which had rates of 11% and 14.4%, respectively.
Asia Pacific further recorded the highest number of partners per app, which rose from 10.7 to 11.8 from 2023 to the first half of 2024.
Moreover, key findings of the study showed that in-app revenue for e-commerce apps increased by 36% YoY, with 60% of in-app revenue coming from Android devices globally. It was then noted that the biggest spikes in 2023 occurred in Q4, indicating November revenue was 34% higher than the monthly average and December was up 22%.
Apart from these figures, global median instals per mille (IPM) also climbed from 1.94 in 2023 to 2.28 in the first half of 2024, which signals enhanced ad campaign effectiveness. APAC then saw a significant increase from 1.53 to 3.06.
Talking about the findings, Tiahn Wetzler, director of content and insights at Adjust, said, “Shopping apps are transforming how consumers interact with brands and make purchases. By working with AI and augmented reality and integrating dynamic channels like social commerce and CTV, marketers can enhance user engagement and create experiences that drive high conversion rates.”
Wetzler further continued, “In a competitive market where engagement and customer loyalty are critical to moving the bottom line, staying at the forefront of intergenerational consumer expectations—and the technologies behind them—is paramount.
“As the shopping app landscape evolves, scalable growth will be achieved through a strategic channel mix, smart personalisation, and a data-obsessed approach to measurement and analytics,” he ended.
Meanwhile, April Tayson, regional vice president for INSEAU at Adjust, commented, “As shopping habits rapidly change with evolving e-commerce technology, it is highly valuable for marketers and retailers to sharpen their campaign strategies to ensure optimal growth and success, especially in APAC.”
“Our data shows that several Southeast Asian countries, such as Indonesia, Malaysia, Philippines, Singapore, and Vietnam, spend a considerable amount of time within apps, posing an opportunity for businesses to ride on this trend, which will likely grow even further in the foreseeable future,” explained Tayson.
