In-app purchases jump 22% on mobile usage gains, study says

Brief:

In-app purchase revenue jumped 22% in the past two weeks as U.S. consumers boosted their mobile usage while being stuck at home during the coronavirus pandemic, per a study that mobile attribution and marketing analytics firm AppsFlyer shared with Mobile Marketer. The U.S. gains outpaced the 7% global growth in in-app purchase since the end of last month.
Streaming apps increased revenue worldwide by 10%, while casual games and social casino apps saw gains ranging from 12% to 16% since March 31 as people relied on their smartphones for entertainment. Food delivery apps experienced a 23% gain with homebound consumers ordering meals instead of dining out.
Digital banking apps increased revenue by 17%, while in the U.S., digital banking apps increased their installs by 60% as people were limited from visiting bank branches. About three quarters (73%) of app verticals in the U.S. boosted revenue, more than the 64% observed worldwide, per AppsFlyer.

Insight:

AppsFlyer's latest report provides more details about how mobile usage has changed in the past few weeks as the coronavirus pandemic forces people to be reliant on their smartphones for a broader range of functions. In the U.S., that includes a jump in installs of banking apps that let customers manage their money without visiting an ATM or bank branch. The growth in digital banking coincides with a surge fintech apps, which AppsFlyer previously identified as the fastest-growing app category in the U.S.

The research follows a report that showed how mobile usage has changed as the coronavirus sweeps through countries. After a big surge that occurs as people are ordered to stay at home, mobile activity tends to subside as lockdowns are lifted. China's peak app usage occurred in January and February before declining, per a prior report by AppsFlyer. That may indicate that other countries will see declines as the pandemic is contained.

AppsFlyer's report indicates that the strong usage trends seen earlier in the year have continued into April, the first full month of lockdowns in the U.S. During the first quarter, business apps boosted user sessions 105% and installs 70% from a year earlier as more people worked from home, per a separate study by mobile ad company Adjust. For developers of mobile apps, the higher usage is an occasion to ramp up their ad spend to stand out among the millions of apps in the App Store and Google Play.